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Shares of BSE, one of Asia’s oldest stock exchanges, tanked 3.5% in Wednesday’s trade on 30 September to rest at ₹3,092 apiece, surrendering all of their previous-day gains as the boost from its entry into the Nifty 50 was offset by stake sales by Goldman Sachs and BNP Paribas. The stock entered the Nifty 50 for the first time, replacing IT giant Wipro as part of the NSE’s twice-a-year index rebalancing. The index rebalancing process was conducted on Tuesday. However, the positive impact of its Nifty 50 inclusion was partly offset by stake sales by key institutional investors. Goldman Sachs and BNP Paribas have each offloaded their respective stakes in the company. As per NSE data, BNP Paribas sold a total of 4,451,693 shares, whereas Goldman Sachs Investments Mauritius Limited trimmed its stake by selling 2,381,571 shares. In a separate large deal, UTI Mutual Fund purchased 2,712,950 shares of BSE, while Nippon India Mutual Fund purchased 2,529,550 shares, Mint reported earlier. As per Trendlyne shareholding data, general retail investors continued to remain the largest shareholders in the company, with a cumulative stake of 54.4%. DIIs and FIIs owned 24.2% and 21.3%, respectively, at the end of the June-ending quarter. Looking at the stock's performance, it ended each of the last four months in losses, causing it to drop 25.42%. The massive decline has also led the stock to give up a significant portion of its yearly gains, although it remains up 17.5%. If it manages to close 2026 lower, it will mark the stock’s fourth straight year of gains. Since the stock is struggling to find momentum, technical experts see more pain ahead. Rajesh Bhosale, technical analyst at My Advisor Alpha, said the stock remains below all key moving averages, indicating near-term weakness. He added that the stock could remain under pressure until it decisively crosses ₹3,300, while ₹2,950 is the next key support level. Sunny Agrawal, Deputy Vice President – Fundamental Research at SBI Securities, said BSE has been consolidating in the ₹3,075– ₹3,308 range since mid-September. Despite the consolidation, the stock continues to trade below its key short- and long-term moving averages, indicating a weak overall trend. The RSI remains flat, suggesting a sideways bias, while the MACD has also flattened and continues to remain below the zero line, reinforcing the subdued momentum. Agrawal said the ₹3,050– ₹3,060 zone is likely to act as immediate support, with a decisive break below this range potentially triggering fresh selling pressure. On the upside, the ₹3,300– ₹3,320 zone is likely to act as a key resistance. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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