ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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in delivery-backed trading. The NSE has certainly not been an exception to this. In the case of the Bombay Stock Exchange, only 21.9 per cent of trades contracted resulted in deliveries in 1995-96, compared with 39.4 per cent in 1994-95. What is particularly disheartening is the fall in the ratio from 52 per cent in 1994-95 to a mere 17.9 per cent in 1995-96 in the case of the NSE, that is, below even that for the BSE. The comparable decline in the case of the Delhi Stock Exchange was from 35.8 per cent to 12.7 percent and of Calcutta from 10.6 per cent to 4 per cent.

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