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BSE shares drop 3% after second downgrade in two days. Nuvama lists CAS among 3 key headwinds

economictimes.indiatimes.com · 5h · first reportShare

Shares of BSE dropped around 3% on Tuesday, extending losses for the fifth consecutive session after Nuvama downgraded the stock’s rating to Hold from Buy, and slashed its target price, listing three key headwinds converging in FY27.BSE shares dropped to Rs 3,235 apiece on Tuesday morning, the lowest level seen by the stock in around five months. Shares of the stock have now fallen more than 10% over five consecutive sessions of losses.Nuvama on BSE share priceNuvama downgraded its rating on the shares of BSE to ‘Hold’ and slashed its target price to Rs 3,240 apiece from Rs 4,090 apiece. The latest target price implies around 3% downside potential from the stock’s previous closing price of Rs 3,332 apiece.The brokerage highlighted three headwinds for the stock exchange that converge in the ongoing financial year 2027. Here are the 3 key headwinds.1) CAS has reset volumes, impairing expiry-day decay trading dynamicsThe newly introduced closing auction session (CAS) has led to huge confu