Markets slip in FY26, fundraising stays resilient: NSE report
Mumbai: India’s capital markets saw a mixed performance in FY26, with benchmark indices declining even as fundraising activity and investor participation remained strong, according to the NSE Annual Highlights FY26 report.
The Nifty 50 closed at 22,331 on March 30, 2026, down 5.1 percent from a year earlier, while the Sensex fell 7.1 percent to 71,948. Broader markets showed varied trends, with the Nifty Midcap 150 rising 1.6 percent, even as small-cap and total market indices declined. Meanwhile, the rupee weakened sharply, depreciating 10.6 percent against the US dollar during the year.
Despite the subdued equity performance, fundraising activity remained resilient. Total fund mobilisation across equity and debt rose 9 percent year-on-year to Rs 20.3 lakh crore. Equity fundraising alone reached Rs 4.47 lakh crore, marking a 5 percent increase. Debt issuances also grew 10 percent to Rs 15.5 lakh crore, driven by a 30 percent surge in commercial paper issuances.
Primary markets saw steady activity, with 219 IPOs launched in FY26 compared to 242 in the previous year. However, the total amount raised through IPOs increased to Rs 1.78 lakh crore. The number of mainboard IPOs rose to 108, while SME listings declined to 111.
Investor participation continued to expand rapidly. The total number of registered investors reached 12.9 crore by March 2026, with 1.6 crore new investors added during the year. Uttar Pradesh led new registrations with a 14 percent share, followed by Maharashtra and Gujarat.
In secondary markets, trading activity moderated across key segments.
Cash market turnover declined 7.3 percent, while equity futures and options also saw lower volumes.
However, India maintained a strong global position, with the NSE ranking first in equity derivatives trading by number of contracts, accounting for over 50 percent global share.
Overall, FY26 reflected a year of consolidation for equities, alongside continued growth in capital raising and a broadening investor base.
