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Stock Market: It is a place where buy/sell (trading) is done by various companies.
In India, it is typically called as ‘Share Market or Stock Market’
Stock Exchange: Stock Exchange is an Exchange market for Buy/Sell of the companies, which is completely auction based, meaning the best buyer will get the shares, the best seller will sell the shares firstly.
The operation of all the exchanges like stocks, commodities, forex is of the same kind as explained above.
Almost Every country has got its own stock exchanges.
Example: In US: It is ‘Nasdaq’, ‘Dow Jones’ and ‘S&P’
In India: BSE, NSE BSE – Bombay Stock Exchange (Sensex) NSE – National Stock Exchange (Nifty)
