SEBI chief Tuhin Kanta Pandey calls for calm as Israel-Iran war triggers global volatility

• SEBI chief urges calm as global market turbulence hits India
• Nifty 50 has surged 25-fold since 1996, showing resilience
• India's market now has over 140 million unique investors

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As global markets reel from turbulence sparked by West Asia war's disruptions to vital shipping lanes and oil-gas supply chains, SEBI chairman Tuhin Kanta Pandey urged investors to "remain calm amidst this storm" on Monday, highlighting India's resilient domestic fundamentals and the Nifty 50 index's proven track record of navigating crises over three decades.

Delivering the keynote address at the National Stock Exchange's (NSE) celebration marking 30 years since the Nifty 50's launch in 1996, Pandey framed the milestone not as a mere anniversary but as a reflection on the evolution of India's capital markets. "Occasions like this are not merely about marking a number or a milestone. They offer us an opportunity to reflect on a journey of institutions, markets and investors," he said.

The Nifty 50, now a globally tracked benchmark comprising India's top 50 blue-chip companies, has intertwined its story with that of the nation's economic ascent. Pandey noted its role as a "window into the evolving story of Indian enterprise," with the index surging 25-fold since inception to deliver an 11% compound annual growth rate (CAGR). "For investors, it is a benchmark. For market participants, it is a reference point," he added.

Pandey's remarks resonated amid recent market jitters, with the Nifty dipping over 1.5% in the week leading up to the event due to Brent crude hovering near $90 per barrel and Red Sea rerouting inflating freight costs. Yet, he emphasized resilience: "Like the rest of the globe, India too is deeply impacted by such developments. Yet, amid such uncertainties, India’s domestic fundamentals have continued to remain strong providing resilience." The index, he recalled, has "navigated several such phases in the past 30 years: periods of uncertainty, volatility and global shocks" and will continue to "reflect the strength and resilience of India’s growth story."

Tracing the Nifty's roots to India's mid-1990s liberalization era, Pandey credited the NSE's establishment as a pivotal shift. "One of the most significant developments during that period was the establishment of the National Stock Exchange (NSE) itself," he said. The NSE pioneered "technology-driven trading, nationwide access, transparent order matching, and modern risk management systems," transitioning from floor-based trading to a fully electronic structure.

India's market has ballooned, with over 140 million unique investors channeling household savings into equities: individuals and domestic mutual funds now hold 36% of the Nifty 50's free-float market cap. NSE-listed companies' capitalization exceeds 130% of GDP, up from 35% in FY95. "The growth of the broader market ecosystem has been equally remarkable," Pandey stated.

"If the past decades were about building strong market foundations, the decades ahead will be about deepening participation, strengthening resilience and expanding opportunities. And I am confident that the Nifty will continue to remain an important anchor in this journey."

The National Stock Exchange of India Ltd. (NSE) today celebrated 30 years of the Nifty 50 Index, India’s flagship equity benchmark and one of the most widely tracked indices globally. The milestone event was held at NSE’s Exchange Plaza in Mumbai, bringing together market leaders, representatives from Nifty 50 companies, regulators, and participants from across India’s capital markets ecosystem.

The celebrations were graced by Shri Tuhin Kanta Pandey, Chairman, Securities and Exchange Board of India (SEBI), as Chief Guest, and Shri S. Gurumurthy, Writer, Strategic Thinker and Independent Director at the Reserve Bank of India, as Distinguished Guest of Honour. They were joined by Shri Srinivas Injeti, Chairman, NSE, and Shri Ashishkumar Chauhan, MD & CEO, NSE