The Indian Stock Market
The capital market which includes the primary market (that deals with new issues of stocks and shares) also encompasses markets in which the securities that had been issued in the past are traded. These secondary markets are called stock markets or stock exchanges. A stock exchange has been defined by the Securities Contract Regulation Act, 1956 as follows:
It is an association, organization or body of individuals whether incorporated or not, established for the purpose of assisting, regulating and controlling business in buying, selling and dealing in securities. In brief, stock exchanges constitute a market where securities issued by the central and state governments, public bodies and joint stock companies ...