| Prior to economic reforms initiated in 1991, Indian financial system was characterized by barriers to entry, control over pricing of financial assets, high transaction costs and restrictions on movement of funds from one market segment to another. Since last two decades, the Indian stock market has undergone sea changes. The economic reforms started since 1991 and a revolutionary change in Information Technology (IT) has changed the entire face of Indian capital market. In this paper an attempt has been made to study the development of Indian securities market from 1991 to 2010. |