Introduction The Bombay Stock Exchange (BSE) (Marathi: Bombay Śhare Bāzaār) (formerly, The StockExchange, Bombay) is a stock exchangelocated on DalalStreet, Mumbai and is the oldest stock exchange in Asia.The equity market capitalization of the companies listedon the BSE wasUS$1.63 trillion as of December 2010,making it the 4th largest stock exchange in Asia andthe 8th largest in the world. The BSE has the largestnumber of listed companies in the world. It has alsobeen cited as one of the worlds best performing stockmarket.
As of December 2010, there are over 5,034listed Indian companies and over7700 scrips on the stock exchange, theBombay Stock Exchange has a significanttrading volume. The BSE SENSEX (SENSitiveindEX), also called the "BSE 30", is a widelyused market index in India and Asia. Thoughmany other exchanges exist, BSE andthe National Stock Exchange of India accountfor the majority of the equity trading in India.
Hours of operation Session TimingBeginning of the Day Session 8:00 - 9:00pre-open trading session 9:00 - 9:15Trading Session 9:15 - 15:30Position Transfer Session 15:30 - 15:50Closing Session 15:50 - 16:05Option Exercise Session 16:05 - 16:35Margin Session 16:35 - 16:50Query Session 16:50 - 17:35End of Day Session 17:30The hours of operation for the BSE quoted above are stated in terms the local time(i.e. GMT +5:30) in Mumbai , India. BSEs normal trading sessions are on all days ofthe week except Saturdays, Sundays and holidays declared by the Exchange inadvance.
HistoryThe Bombay Stock Exchange is the oldestexchange in Asia. It traces its history to the1850s, when 4 Gujarati and 1 Parsi stockbrokerwould gather under banyan trees in front ofMumbais Town Hall. The location of thesemeetings changed many times, as the numberof brokers constantly increased. The groupeventually moved to Dalal Street in 1874 and in1875 became an official organization known asThe Native Share & Stock Brokers Association.
In 1956, the BSE became the first stock exchange tobe recognized by the Indian Government under theSecurities Contracts Regulation Act. The BombayStock Exchange developed the BSE Sensex in 1986,giving the BSE a means to measure overallperformance of the exchange. In 2000 the BSE usedthis index to open its derivatives market, tradingSensex futures contracts. Historically an openoutcry floor trading exchange, the Bombay StockExchange switched to an electronic trading systemin 1995.
BSE indices The launch of SENSEX in 1986 was later followed upin January 1989 by introduction of BSE National Index (Base: 1983-84 = 100). It comprised 100 stocks listed at five major stock exchanges in India - Mumbai, Calcutta, Delhi, Ahmedabad and Madras. The BSE National Index was renamed BSE-100 Index from October 14, 1996 and since then, it is beingcalculated taking into consideration only the prices of stocks listed at BSE. BSE launched the dollar-linked version of BSE-100 index on May 22, 2006. BSE launched two new index series on 27 May 1994: The BSE-200 and the DOLLEX-200.
BSE-500 Index and 5 sectoral indices werelaunched in 1999. In 2001, BSE launched BSE-PSUIndex, DOLLEX-30 and the countrys first free-floatbased index - the BSE TECk Index. Over the years,BSE shifted all its indices to the free-floatmethodology (except BSE-PSU index). BSEdisseminates information on the Price-EarningsRatio, the Price to Book Value Ratio and theDividend Yield Percentage on day-to-day basis ofall its major indices. The values of all BSE indicesare updated on real time basis during markethours and displayed through the BOLT system, BSEwebsite and news wire agencies.
All BSE Indices are reviewed periodically bythe BSE Index Committee. This Committee which comprises eminent independent finance professionals frames the broadpolicy guidelines for the development and maintenance of all BSE indices. The BSE Index Cell carries out the day-to-day maintenance of all indices and conducts research on development of new indices.
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Introduction The National Stock Exchange (NSE) isa stock exchange located at Mumbai, India.It is the 9th largest stock exchange in theworld by market capitalization and largestin India by daily turnover and number oftrades, for both equities and derivativetrading. NSE has a market capitalization ofaround US$1.59 trillion and over 1,552listings as of December 2010.
Though a number of other exchanges exist,NSE and the Bombay Stock Exchange arethe two most significant stock exchanges inIndia, and between them are responsiblefor the vast majority of share transactions.The NSEs key index is the S&P CNX Nifty,known as the NSE NIFTY (National StockExchange Fifty), an index of fifty majorstocks weighted by market capitalisation.
NSE is mutually-owned by a set of leading financialinstitutions, banks, insurance companies and otherfinancial intermediaries in India but its ownership andmanagement operate as separate entities. There areat least 2 foreign investors NYSE Euronext and GoldmanSachs who have taken a stake in the NSE. As of 2006,the NSE VSAT terminals, 2799 in total, cover more than1500 cities across India. NSE is the third largest StockExchange in the world in terms of the number of tradesin equities. It is the second fastest growing stockexchange in the world with a recorded growth of 16.6%
Origins The National Stock Exchange of India waspromoted by leading Financial institutions at thebehest of theGovernment of India, and wasincorporated in November 1992 as a tax-payingcompany. In April 1993, it was recognized as a stockexchange under the Securities Contracts(Regulation) Act, 1956. NSE commenced operationsin the Wholesale Debt Market (WDM) segment inJune 1994. The Capital market (Equities) segment ofthe NSE commenced operations in November1994, while operations in the Derivatives segmentcommenced in June 2000.
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