Stock And Commodity Markets

This book presents a comprehensive and up-to-date overview of stock markets, financial systems, and their regulatory environment, tailored specifically for students of commerce, finance, and business studies. It is structured into five systematic modules, beginning with the evolution of stock exchanges and the transformation of trading mechanisms in India, including dematerialisation and the rise of digital platforms. The subsequent modules offer a thorough understanding of financial markets, their instruments, infrastructure, and market participants, supported by clear explanations and real-world relevance. Stock market operations are examined in detail, with a focus on trading mechanisms, equity and debt instruments, derivatives, and the significance of speculation and hedging. The book also explores commodity markets, both agricultural and non-agricultural, highlighting major exchanges, trading procedures, and price discovery mechanisms. Further, it emphasises the role of regulation through an in-depth discussion on SEBI, investor protection measures, surveillance systems, and recent regulatory developments including ESG disclosure requirements and IPO reforms. Designed to enhance conceptual clarity and practical understanding, each module is supported by review questions and references. This text serves as a valuable academic resource for learners, educators, and aspiring market professionals seeking foundational and applied knowledge of modern financial markets in India.