Volumes surged more than ten-fold over the past two days, even as the stock remained range-bound between ₹1,945 and ₹2,045.
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Hopes of NSE’s long-awaited public listing have reignited investor interest in the exchange’s unlisted shares after the Supreme Court dismissed SEBI’s plea in its legal dispute involving the bourse. The development has triggered a sharp rise in trading activity in the grey market, with volumes surging more than ten-fold over the past two days even as the stock remained range-bound between ₹1,945 and ₹2,045.“In the unlisted market, the NSE stock continues to trade range-bound, between ₹1,945 and ₹2,045. However, the volumes in the last two days have increased more than ten times. Most retail investors are buyers in the unlisted market, while institutions remain sellers,” said Vijay Gada, Founder, KuberGrow Financials.Market participants said the court ruling has been viewed as removing a key overhang on NSE’s listing plans, prompting fresh buying interest from retail investors. NSE has already filed draft papers for its proposed IPO, which comprises a 100 per cent Offer for Sale (OFS) of up to 14.89 crore shares, or about 6 per cent of its equity capital. Based on current unlisted market valuations, the IPO could be worth around Rs 30,000 crore, making it one of the largest public issues in India.Published on September 3, 2026
