High Level view of the Stock Market

A stock market was first setup in order to offer a platform for buyers and sellers to meet and trade stocks.
SEBI is the regulating authority for stock markets setup by the Government of India. All stock markets have to operate by the rules set down by SEBI. SEBI also plays a role in solving disputes.
Anybody can set up a stock market as long as they get clearance from SEBI.
NSE and BSE are the two major stock markets in India. BSE is the oldest stock market in India whereas NSE is relatively new. There were other stock markets in India such as Calcutta Stock Exchange, Madras Stock Exchange, etc which shutdown due to less footfalls.
Companies have the freedom to register for NSE, BSE or both.
When a company wishes to go public for the first time it makes an IPO. An IPO is a restricted affair attended only by the parties invited by the company. It is also called the Primary Market.
When the share holders who buy stock in the primary market wish to sell their stocks they approach the secondary market i.e. NSE/ BSE.
Share Holder – Any body who owns stocks of a particular company is a share holder of that company. He/ She is also a partial owner of the company.
Partnership – It’s an agreement between two or more individuals (usually a small number) to split the ownership or profits in previously agreed upon percentages (50/ 50, 60/40, 40/30/30)
Director – The initial partners or owners of a company elect a person either from within their circle or a complete outsider to run the company. The director may or may not own shares in the company.
Promoter – Someone who promotes the company and influences buyers to buy the company’s stocks. Some other terms are Dividend, Bonus, Split