BSE Ltd. shares rose as much as 1.9% on Monday, ending a five-session losing streak, after the exchange's market share strengthened in July.
The stock climbed to an intraday high of Rs 3,647.70.
The gains followed an increase in BSE's market share across key segments. The exchange's notional market share reached 55% in July, while its premium market share touched an all-time high of 36%.
The higher market share helped lift the stock after it had come under pressure in recent weeks. BSE shares have fallen 10% over the past month, although they remain 49% higher than a year ago.
Analysts said the increase in market share reflects higher institutional participation and a rise in monthly market share.
"The rise in market share is also a function of increasing institutional participation and increase in monthly share," analysts said.
According to data compiled by Bloomberg, the consensus target price for the stock stands at Rs 4,215.65, implying a potential upside of about 16% from the previous regular close.
Among analysts tracked by Bloomberg, 11 recommend buying the stock, while seven have a hold rating.
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