The National Stock Exchange (NSE) has continued its leadership in the 1999-2000 tally in terms of trading turnovers among the stock exchanges in the country followed by Bombay Stock Exchange (BSE), but the latter has pipped the former in terms of value of shares delivered, according to the latest annual report released by Securities and Exchange Board of India.

However, both NSE and BSE have seen a rise in trading turnover, from 40.49 per cent in 1998-99 to 40.59 per cent last year by the former and from 30.49 per cent to 33.14 per cent by the latter during the year.

But the trends show that BSE was narrowing in on the NSE in terms of market share year after year during the last few years.

In terms of trading turnover, NSE has more than doubled its performance of Rs 414,383 crore in 1998-99 to Rs 839,052 crore during last year, and same was the case with BSE which reported a turnover of Rs 685,000 crore in 1999-00 against Rs 311,999 crore the previous year.

These two stock exchanges were distantly followed by Calcutta Stock Exchange, but it has improved its market share during the fiscal from 16.79 per cent to 17.23 per cent, besides following the leaders in more than doubling its turnover to Rs 357,166 crore from Rs 171,780 crore during the previous year.

Surprisingly, Delhi Stock Exchange has joined the band of losing stock exchanges by experiencing a cut its share from 5.06 per cent of all the exchanges in 1998-99 to 4.51 per cent last year, despite posting over 80 per cent higher turnover of 93,289 crore during the year.

During last fiscal, only two other stock exchanges - Ahmedabad and Uttar Pradesh - have posted over one per cent of the total trading turnover in the country, while eleven other regional exchanges have less than 0.01 per cent of the national turnover.

On the delivery front, NSE is leading in actual turnover during the reporting year with Rs 839,052 crore, closely followed by BSE with Rs 685,028 crore, but in terms of value of shares delivered BSE is ahead with 110,022 crore followed by NSE with Rs 84,492 crore.

Thus, BSE continues to be ahead of NSE in delivery ratio (delivery to turnover) during 1999-'00 with 16 per cent against 10 per cent on NSE, against 20 per cent and 15 per cent respectively in the previous year.