BSE shares drop 4% after Bernstein sets Rs 2,820 target
Bullseye exchange stocks fell sharply on Wednesday as major brokerage firm Bernstein downgraded its outlook with a specific target price.
Shares of the Bombay Stock Exchange fell 4% to reach a low of Rs 3,268 on Wednesday. The decline followed news that international firm Bernstein initiated coverage on the company with an Underperform rating and a price target of Rs 2,820. This target represents a potential downside of up to 17% from the last closing price of Rs 3,394. Bernstein expects retail participation in equity derivatives to moderate and believes the exchange's market share gains are likely to peak in fiscal year 2027. The brokerage noted that while exchanges delivered strong returns previously driven by retail enthusiasm, future growth depends on near-term volume trends. Bernstein also highlighted concerns regarding closing auction session volumes affecting overall activity levels.
