The Indian stock market has two major exchanges. The number of additional market indicators for the South Asian nation has grown exponentially over the past few decades, but nearly all of the trading in the Indian market takes place on the Bombay Stock Exchange and the National Stock Exchange. Consequently, most market breadth indicators for the Indian economy center around the indexes of the BSE or the NSE.

The nature of individual technical breadth indicators does not vary widely from indexes between countries. For example, the advance-decline (A/D) line and the trading index indicator can just as easily be applied to the New York Stock Exchange (NYSE), the London Stock Exchange (LSE) or the National Stock Exchange in India.

Bombay Stock Exchange

Located in Mumbai, the Bombay Stock Exchange lists over 5,000 major companies – the largest such exchange in the world. The BSE's humble beginnings trace back to a gathering of five brokers in front of Mumbai's town hall in 1855, eventually organizing as a stockbrokers association in 1875. The most important Indian market indexes, known as SENSEX and the BSE National Index, are both heavily weighted towards stocks listed on the BSE. All BSE-based indexes are reviewed by the BSE Index Committee.

National Stock Exchange

Also located in Mumbai, the National Stock Exchange of India Ltd was formed in 1992, more than a century after the BSE. The NSE was designed to be a widely accessible electronic exchange that would improve the transparency of the Indian stock market. Its most important benchmark index, the CNX Nifty, follows the Indian equity market through 22 separate sectors. It is often used as a quick reference for the health of the Indian economy, comparable to the Dow Jones Industrial Average (DJIA) or the S&P 500 for the United States.

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