Akash jain

1. Business studies
Project work
Name : Akash Jain
Class : XII
Roll No : 01
School : J.Sikile school

2. CERTIFICATE
This is to certify that Mr. Akash Jain of class XII-A of J.Sikile School, Narsapur,
has completed this project under my supervision. He has taken keen
interest and shown utmost sincerity in completion of this project. He has
successfully completed the ‘Project work in Accountancy Project’ up to my
satisfaction.
Mr.Durga Prasad
(P.G.T Business Studies )
Ms. G. MEENA KUMARI
(Principal)
J.Sikile School
Narsapur.

3. ACKNOWLEDGEMENT
First of all I would like to take this opportunity to thank the J.SIKILE SCHOOL for
having project.
I would like to convey my sincere thanks to Mr.Durga prasad for supporting me
in the project work.
I also would like to thank our classmates who have helped and encouraged me
throughout the working of the project last but not the least. I would like to
thank the Almighty for always helping me.
AKASH JAIN

4. Table ofContents
Stock exchange:............................................................................................................................5
Bombay Stock Exchange ...............................................................................................................5
History..............................................................................................................................................8
Hours of operation ........................................................................................................................14
Indices ............................................................................................................................................14
Awards ...........................................................................................................................................15
Companies listed the Bombay Stock Exchange........................................................................17
Clause 49........................................................................................................................................19
National Stock Exchange of India ..............................................................................................22
Markets...........................................................................................................................................24
Trading schedule ...........................................................................................................................26
Exchange Traded Funds and Derivatives on National Stock Exchange................................27
Technology ....................................................................................................................................27
References......................................................................................................................................28

5. Stock exchange:
Stock Exchange is an organized marketplace where
securities are traded. These securities are by the
government, semi-government Bodies, Public sector
undertakings and companies for borrowing funds
and raising resources. Securities are defined as
monetary claims and include stock, shares,
debentures, bonds etc. If these securities are
marketable as in the case of Government stock, they
are transferable by endorsement and are like
movable property. Under the securities Contract
Regulation Act of 1956, securities trading are
regulated by the Central Government and such
trading can take place only in Stock Exchange
recognized by the Government under this Act. At
present there are 23 recognized stock Exchanges in
India.
Indian Stock Markets are one of the oldest in Asia.
Its history dates back to nearly 200 years ago.
Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is an
Indian stock exchange located at Dalal Street, Kala
Ghoda, Mumbai, Maharashtra, India. Established
in 1875, the BSE is Asia’s first stock exchange and
the world's fastest stock exchange with a median
trade speed of 6 microseconds. The BSE is the
world's 11th largest stock exchange with an
overall market capitalization of $1.7 trillion as of
January 23rd, 2015. More than 5500 companies are
publicly listed on the BSE.
Bombay Stock Exchange is the oldest stock
exchange in Asian with a rich heritage, now
spanning three centuries in its 133 years of existence. What is now popularly known as BSE was
Bombay Stock Exchange BSE
Type Stock exchange
Location Mumbai, Maharashtra, India
Founded 1875
Owner BSE Limited
Key people Ashishkumar Chauhan (MD
& CEO)
Currency Indian rupee (₹)
No. of listings 5,749
Market cap US$ 1.7 trillion (23 Jan 2015)
Volume US$ 93 billion (June 2014)
Indices BSE SENSEX
BSE Small Cap
BSE Mid-Cap
BSE 500
Website www.bseindia.com

6. established as “The Native Share & Stock Brokers’ Association” in 1875. BSE is the first stock
exchange in the country which obtained permanent recognition (in 1956) from the government of
India under the Securities Contracts (Regulation) Act 1956. BSE’s pivotal and pre-eminent role
in the development of the Indian capital market is widely recognized. It migrated from the open
outcry system to an online screen- based order driven trading system in 1955. Earlier an
Association of Persons (AOP), BSE is now a corporatized and demutualised entity incorporated
under the provisions of the companies Act, 1956, pursuant to the BSE (Corporatization and
Demutualization) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI).
With demutualization, BSE has two of world’s best exchanges, Deutsche Borse and Singapore
Exchange, as its strategic partners. Over the past 133 years, BSE has facilitated the growth of the
Indian corporate sector by providing it with an efficient access to resources. There is perhaps no
major corporate in India which has not sourced BSE’s services in raising resources from the
capital market.
Today, BSE is the world’s number 1 exchange in terms of the number of listed companies and
the world’s 5 tie in transaction numbers. The market capitalization as on December 31, 2007
stood at USD 1.79 trillion. An inventor can choose from more than 4700 listed companies, which
for easy reference, are classified into A, B, S, T and Z groups. The BSE Index, SENSEX, is
Indian’s first stock market index that enjoys an iconic stature, and is tracked worldwide. It is an
index of 30 stocks representing 12 major sectors. The SENSEX is constructed on a ‘free-float’
methodology, and is sensitive to market sentiments and market realities. Apart from the
SENSEX, BSE offers 21 indices, including 12 sect oral indicates. BSE has entered into an index
cooperation agreement with Deutsche Borse. This agreement has made SENSEEX and other
BSE indices available to investors in Europe and America. Moreover, Barclays Global Investors
(BGI), the global leader in ETF’S through its Trader which tracks the SENSEX. The ETF
enables investors in Hong Kong to take an exposure to the Indian equity market. BSE provides
an efficient and transparent market for trading in equity, debt instruments and derivatives. It has
a nation- wide reach with a pressure in more than 450 cities and towns of India. BSE has always
been at par with the international standards. The systems and processes are designed to safeguard
market integrity and enhance transparency in operations.BSE is the first exchange in India and
the second is the world to obtain an ISO 9001:2000 certification. It is also the first exchange in
India and the second in the world to receive Information Security Management System Standard
BS 7799-2-2002 certification for its BSE On-line Trading System (BOLT).BSE continues to
innovate. In recent times, it has become the first national level stock exchange to launch its
website in Gujarati and Hindi to reach out to a large number of investors. It has successfully
launched a reporting platform for corporate bonds in India christened the ICDM or Indian
Corporate Dept Market and a unique ticker screen aptly named ‘BSE Broadcast’ which enables

7. information dissemination to the common man on the street. In 2006, BSE launched the
Directors Database and ICERS (India Corporate Electronic.
Reporting System) to facilitate information flow and increase transparency in Indian capital
market. While the Directors database provides a single-point access to information in the boards
of directors of listed companies, the ICERS facilities the corporate in sharing with BSE their
corporate announcements. BSE also has a wide range of services to empower investors and
facilitate smooth transactions:
Investors Services: The Department of Investor Services redresses grievances of investors. BSE
was the first exchange in the country to provide an amount of Rs.1 million towards the investor
protection fund; it is an amount higher than that of any exchange in the country. BSE launched a
nationwide investor awareness programme-safe investing in the Stock Market’ under which
264vprogrammes were held in more than 200 cities. The BSE On-line Trading (BOLT): BSE
On-line Trading (BOLT) facilitates on-line screen based trading in securities. BOLT is currently
operating in 25,000 Trader Workstations located across over 450 cities in India.
BSEWEBX.com: In February 2001, BSE introduced the world’s first centralized exchange-based
Internet trading system, BSEWEBX.com. This initiative enables investors anywhere in the world
to trade on the BSE platform.
Surveillance: BSE’s On-line Surveillance System (BOSS) monitors on a real-time basis the price
movements, volume positions and members’ positions an real-time measurement of default risk,
market reconstruction and generation of cross market alerts.
BSE Trading Institution: BTI imparts capital market trading and certification, in collaboration
with reputed management institutes and universities. It offers over 40 courses on various aspects
of the capital market and financial sector. More than 20,000 people have attended the BTI
programmers.

8. History
The BOMBAY STOCK EXCHANGE is the oldest exchange in Asia. Its history dates back to
1855, when five stockbrokers would gather under banyan trees in front of Mumbai's Town Hall.
The location of these meetings changed many times to accommodate an increasing number of
brokers. The group eventually moved to Dalal Street in 1874 and in became an official
organization known as "The Native Share & Stock Brokers Association" in 1875.
On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian
Government under the Securities Contracts Regulation Act. In 1980, the exchange moved to
the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area. In 1986, it developed the BSE
SENSEX index, giving the BSE a means to measure the overall performance of the exchange. In
2000, the BSE used this index to open its derivatives market, trading SENSEX futures contracts.
The development of SENSEX options along with equity derivatives followed in 2001 and 2002,
expanding the BSE's trading platform.
Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an
electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to
make this transition. This automated, screen-based trading platform called BSE On-Line Trading
(BOLT) had a capacity of 8 million orders per day. The BSE has also introduced a centralized
exchange-based internet trading system, BSEWEBx.co.in to enable investors anywhere in the
world to trade on the BSE platform.
The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative,
joining in September 2012.
1996 To 2001
19 August 1996 First major SENSEX revamp* 22 March 1999 Central Depository Services
Limited (CDSL) set up with other financial institutions
1 June 1999 Interest rate swaps (IRS) / Forward Rate Agreements (FRA) allowed
15 July 1999 CDSL commences work
11 October 1999 SENSEX closed above 5000
11 February 2000 SENSEX crosses 6000 intra-day
9 June 2000 Equity Derivatives introduced

9. 2001 To 2010
1 March 2001 Corporatization of Exchanges proposed by the Union Govt.
1 February 2001 BSE Web Launched
1 June 2001 Index Options launched
4 June 2001 BSE PSU index introduced
15 June 2001 WDM operations at commenced
2 July 2001 Value at risk model introduced for margin requirement calculation
9 July 2001 Stock options launched
11 July 2001 BSE Tec launched, India’s First free float index
25 July 2001 Dollex 30 launched
1 November 2001 Stock futures launched
29 November 2001 100% book building allowed
31 December 2001 All securities clearing move to T+5 (trade date + 5 days)
1 February 2002 Two way fungibility for ADR/GDR
15 February 2002 Negotiated Dealing System (NDS) established
1 April 2002 T+3 settlements Introduced
1 January 2003 India’s first ETF on SENSEX – ‘SPICE' introduced
16 January 2003 Retail trading in G Sec
1 April 2003 T+2 settlements Introduced
1 June 2003 Bankex launched
1 September 2003 SENSEX shifted to free-float methodology
1 December 2003 T group launched

10. 2 June 2004 SENSEX closes over 6000 for the first time (564.71 points, 11.14%)
17 May 2004 Second biggest fall of all time, Circuit filters used twice in a day (the Scheme)
announced by SEBI
20 May 2005 the BSE (Corporatization and Demutualization) Scheme, 2005
8 August 2005 Incorporation of Bombay Stock Exchange Limited
12 August 2005 Certificate of Commencement of Business
19 August 2005 BSE became a Corporate Entity
7 February 2006 SENSEX closed above 10000
7 July 2006 BSE Gujarati website launched
21 October 2006 BSE Hindi website launched
2 November 2006 ishares BSE SENSEX India Tracker listed at Hong Kong Stock Exchange
2 January 2007 Launch of Unified Corporate Bond Reporting platform: Indian Corporate Debt
Market (ICDM)
7 March 2007 Singapore Exchange Limited entered into an agreement to invest in a 5% stake in
BSE
16 May 2007 Appointed Date under the Scheme i.e. Date on which Corporatization and
Demutualization was achieved. Notified by SEBI in the Official Gazette on 29 June 2007
10 January 2008 SENSEX All-time high 21206.77
1 October 2008 Currency Derivatives Introduced
18 May 2009 the SENSEX raised 2110.70 points (17.34%) and Index-wide upper circuit breaker
applied
7 August 2009 BSE — USE Form Alliance to Develop Currency & Interest Rate
24 August 2009 BSE IPO Index launched
1 October 2009 Bombay Stock Exchange introduces trade details facility for the Investors

11. 5 October 2009 BSE Introduces New Transaction Fee Structure for Cash Equity Segment
18 December 2009 BSE's new derivatives rates to lower transaction costs for all
4 January 2010 Market time changed to 9.0 a.m. – 3.30 p.m.
20 January 2010 BSE PSU website launched
22 April 2010 New DBM framework @ Rs.10 lakhs – 90% reduction in Membership Deposit
12 May 2010 Dissemination of Corporate Action information via SWIFT platform
23 July 2010 Options on BOLT
21 September 2010 First to introduce Mobile-based Trading
29 September 2010 Introduction of Smart Order Routing (SOR)
4 October 2010 EUREX — SENSEX Futures launch
11 October 2010 Launch of Fastrade on Web (FoW) – Exchange hosted platform
5 November 2010 SENSEX closes above 21,000 for the first time
12 November 2010 Commencement of Volatility Index
22 November 2010 Launch of SLB
10 December 2010 Launch of SIP
27 December 2010 Commencement of Shariah Index

12. 2011 To 2014
17 November 2011 Maharashtra and United Kingdom Environment Ministers launched Concept
Note for BSE Carbon Index
30 December 2011, picks up a stake in the proxy advisory firm, Institutional Investor Advisory
Services India Limited (IiAS)
7 January 2011 BSE Training Institute Ltd. with IGNOU launched India's first 2-year full-time
MBA programmer specializing in Financial Market
15 January 2011 Co-location facility at BSE&n as BSE ties up with Standard and Poor have to
use the S&P brand for Sensex and other indices.
28 November 2013 Launch of Currency Derivatives (BSE CDX)
28 January 2014 Launch of Interest Rate Futures (BSE –IRF)
11 February 2014 Launch of Institutional Trading Platform on BSE SME
20 March 2014 BSE Launches New Debt Segment
4 April 2014 BSE SME exceeds USD 1 billion market capitalization
7 April 2014 Launch of Equity Segment on BOLT Plus with Median Response Time of 200 (µs)
27 May 2014 BSE felicitated at The Asian Banker Summit 2014
26 September 2014 BSE inks MoU with BNY Mellon
22 October 2014 BSE inks strategic partnership with YES BANK
28 November 2014 BSE listed cos market cap crosses landmark 100 lakh crore
12 December 2014 Market Cap of BSE SME listed companies crosses landmark 10,000 crore

13. 2015
8 January 2015 BSE commenced live trading from its Disaster Recovery site in Hyderabad
Asia Index Private Limited launches S&P BSE All Cap, S&P BSE SENSEX Leverage and
Inverse Indices on 16 April 2015
BSE introduces overnight investment product on 18 May 2015
BSE exceeds 1 billion derivatives contracts on its new Deutsche Börse T7 powered trading
platform on 28 May 2015
BSE celebrated its 140th Foundation Day on 9 July 2015
BSE SME successfully completes listing of 100 SMEs under its SME umbrella on 16 July 2015
BSE witnesses its fourth largest fall in history on a single day of 1,625 points dated 24 August
2015
BSE becomes the fastest exchange in the world with a median response speed of 6 microseconds
on 13 October 2015

14. Hours of operation
The hours of operation for the BSE quoted above are
stated in terms of the local time (GMT + 5:30). BSE's
normal trading sessions occur on all days of the week
except weekends and holidays declared by the
Exchange in advance.
Indices
Graph of S&P BSE SENSEX monthly data from January 1991 to May 2013
The launch of SENSEX in 1986 was later followed up in January 1989 by the introduction of the
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 14 October 1996 and, since then, its calculations take
into consideration only the prices of stocks listed at BSE.
BSE launched the dollar-linked version of BSE-100 index on 22 May 2006, the "BSE-200" and
the "DOLLEX-200" on 27 May 1994, the BSE-500 Index and 5 sectoral indices in 1999, and the
BSE-PSU Index, DOLLEX-300, and the BSE TECK Index (the country's first free-float based
index) in 2001. Over the years, BSE shifted all its indices to the free-float methodology (except
BSE-PSU index).
Session Timing
Pre-open Trading Session 09:00 – 09:15
Trading Session 09:15 – 15:30
Position Transfer Session 15:40 – 16:00
Closing Session 15:40 – 16:00
Option Exercise Session 17:07

15. The BSE disseminates information on the Price-Earnings Ratio, the Price to Book Value Ratio,
and the Dividend Yield Percentage of all its major indices on day-to-day basis. The values of all
BSE indices are updated on a real-time basis during market hours and displayed through the
BOLT system, the BSE website, and news wire agencies. All BSE Indices are reviewed
periodically by the BSE Index Committee. This Committee, which comprises eminent
independent finance professionals, frames the broad policy 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.
SENSEX is significantly correlated with the stock indices of other emerging markets.
Awards
The BSE has won several awards and recognitions.
Golden Peacock Global Award for Excellence in Corporate Governance for the year 2015
Lokmat HR Leadership Award at Mumbai in June-2014
50 most talented global HR leaders in Asia at the World HRD congress at Mumbai in February-
2014
FIICI-Frames Best Animation Film-International Category for the Investor Education television
commercial
India Innovation Award for Big Data Implementation
ICICI Lombard & ET Now Risk Manager Award in BFSI Category
SKOCH Order of Merit for E-Boss for qualifying among India’s Best 2013
SKOCH Financial Award 2013
Financial Inclusion Awards – 2011
Indian Merchant Chamber Award in the Large Enterprise Category for use of Information
Technology
Best Managed Financial Derivatives Exchange in the Asia Pacific by the Asian Banker
The Golden Peacock Global CSR Award for its initiatives in Corporate Social Responsibility

16. BSE has won NASSCOM – CNBC-TV18’s IT User Awards, 2010 in Financial Services
category
BSE has won Skoch Virtual Corporation 2010 Award in the BSE Star MF category
Responsibility Award (CSR), by the World Council of Corporate Governance
Annual Reports and Accounts of BSE have been awarded the ICAI awards for excellence in
financial reporting for four consecutive years from 2006 onwards
Human Resource Management at BSE has won the Asia – Pacific HRM awards for its efforts in
employer branding through talent management at work, health management at work and
excellence in HR through technology
CIO of the Year- Financial Sector: Ashishkumar Chauhan, Dy Chief Executive Officer, Bombay
Stock Exchange
The World Council of Corporate Governance has awarded the Golden Peacock Global CSR
Award in financial sector for BSE's initiatives in Corporate Social Responsibility (CSR) in 2007.

17. Companies listed the Bombay Stock Exchange
List of BSESENSEX companies as of April 2015
1. Axis Bank
2. Bajaj Auto Ltd
3. Bharat Heavy Electricals Ltd
4. Bharti Airtel Ltd
5. Cipla Ltd
6. Coal India Ltd
7. Dr. Reddy's Laboratories Ltd
8. GAIL
9. HDFC
10. HDFC Bank
11. Hindalco
12. Hindustan Unilever Limited
13. ICICI Bank
14. Infosys
15. ITC
16. Larsen
17. Lupin Ltd.
18. M&M
19. NTPC Ltd

18. 20. Oil and Natural Gas Corporation Ltd
21. Reliance Industries Ltd
22. Vedanta Limited
23. State Bank of India
24. Sun Pharmaceutical Industries Ltd
25. Tata Consultancy Services Ltd
26. Tata Motors Ltd
27. Maruti Suzuki
28. Tata Steel Ltd
29. Wipro Ltd

19. Clause 49
Clause 49 of the Listing Agreement to the Indian stock exchange comes into effect from 31
December 2005. It has been formulated for the improvement of corporate governance in all listed
companies.
In corporate hierarchy two types of managements are envisaged:
i) Companies managed by Board of Directors; and
ii) Those by a Managing Director, whole-time director or manager subject to the control and
guidance of the Board of Directors.
As per Clause 49, for a company with an Executive Chairman, at least 50 per cent of the board
should comprise independent directors. In the case of a company with a non-executive
Chairman, at least one-third of the board should be independent directors.
It would be necessary for chief executives and chief financial officers to establish and maintain
internal controls and implement remediation and risk mitigation towards deficiencies in internal
controls, among others.
Clause VI (ii) of Clause 49 requires all companies to submit a quarterly compliance report
to stock exchange in the prescribed form. The clause also requires that there be a separate section
on corporate governance in the annual report with a detailed compliance report.
A company is also required to obtain a certificate either from auditors or practicing company
secretaries regarding compliance of conditions as stipulated, and annex the same to the director's
report.
The clause mandates composition of an audit committee; one of the directors is required to be
"financially literate".
It is mandatory for all listed companies to comply with the clause by 31 December 2005.
Corporate Governance may be defined as “A set of systems, processes and principles which
ensure that a company is governed in the best interest of all stakeholders.” It ensures
Commitment to values and ethical conduct of business; Transparency in business transactions;
Statutory and legal compliance; adequate disclosures and Effective decision-making to achieve

20. corporate objectives. In other words, Corporate Governance is about promoting corporate
fairness, transparency and accountability. Good Corporate Governance is simply Good Business.
Clause 49 of the SEBI guidelines on Corporate Governance as amended on 29 October 2004 has
made major changes in the definition of independent directors, strengthening the responsibilities
of audit committees, improving quality of financial disclosures, including those relating to
related party transactions and proceeds from public/ rights/ preferential issues, requiring Boards
to adopt formal code of conduct, requiring CEO/CFO certification of financial statements and for
improving disclosures to shareholders. Certain non-mandatory clauses like whistle blower policy
and restriction of the term of independent directors have also been included.
The term ‘Clause 49’ refers to clause number 49 of the Listing Agreement between a company
and the stock exchanges on which it is listed (the Listing Agreement is identical for all Indian
stock exchanges, including the NSE and BSE). This clause is a recent addition to the Listing
Agreement and was inserted as late as 2000 consequent to the recommendations of the
Kumarmangalam Birla Committee on Corporate Governance constituted by the Securities
Exchange Board of India (SEBI) in 1999.
Clause 49, when it was first added, was intended to introduce some basic corporate governance
practices in Indian companies and brought in a number of key changes in governance and
disclosures (many of which we take for granted today). It specified the minimum number of
independent directors required on the board of a company. The setting up of an Audit committee,
and a Shareholders’ Grievance committee, among others, were made mandatory as were the
Management’s Discussion and Analysis (MD&A) section and the Report on Corporate
Governance in the Annual Report, and disclosures of fees paid to non-executive directors. A
limit was placed on the number of committees that a director could serve on.
In late 2002, SEBI constituted the Narayana Murthy Committee to assess the adequacy of current
corporate governance practices and to suggest improvements. Based on the recommendations of
this committee, SEBI issued a modified Clause 49 on 29 October 2004 (the ‘revised Clause 49’)
which came into operation on 1 January 2006.
The revised Clause 49 has suitably pushed forward the original intent of protecting the interests
of investors through enhanced governance practices and disclosures. Five broad themes
predominate. The independence criteria for directors have been clarified. The roles and
responsibilities of the board have been enhanced. The quality and quantity of disclosures have
improved. The roles and responsibilities of the audit committee in all matters relating to internal
controls and financial reporting have been consolidated, and the accountability of top
management—specifically the CEO and CFO—has been enhanced. Within each of these areas,

21. the revised Clause 49 moves further into the realm of global best practices (and sometimes, even
beyond).
By Circular dated 8 April 2008, the Securities and Exchange Board of India amended Clause 49
of the Listing Agreement to extent the 50% independent director’s rule to all Boards of Directors
where the Non-Executive Chairman is a promoter of the Company or related to the promoters of
the company.
At the end of the first India Corporate Week in December 2009, the Ministry of Corporate
Affairs issued new Corporate Governance Voluntary Guidelines and new Corporate Social
Responsibility Voluntary Guidelines.

22. National Stock
Exchange of India
The National Stock Exchange of India
Limited (NSE) is the leading stock
exchange of India, located in Mumbai.
NSE was established in 1992 as the first
demutualized electronic exchange in the
country. NSE was the first exchange in
the country to provide a modern, fully
automated screen-based electronic
trading system which offered easy
trading facility to the investors spread
across the length and breadth of the
country.
NSE has a market capitalization of more
than US$1.65 trillion, making it the
world’s 12th-largest stock exchange as
of 23 January 2015. NSE's flagship
index, the Nifty, the 50 stock index, is
used extensively by investors in India
and around the world as a barometer of
the Indian capital markets.
NSE was set up by a group of leading
Indian financial institutions at the behest
of the government of India to bring
transparency to the Indian capital market.
Based on the recommendations laid out
by the government committee, NSE has
been established with a diversified
shareholding comprising domestic and
global investors. The key domestic investors include Life Insurance Corporation of India, State
Bank of India, IFCI Limited IDFC Limited and Stock Holding Corporation of India Limited.
And the key global investors are Gagil FDI Limited, GS Strategic Investments Limited, SAIF II
SE Investments Mauritius Limited, Aranda Investments (Mauritius) Pte Limited and PI
Opportunities Fund I.
National Stock Exchange
National Stock Exchange
Location of National Stock Exchange in India
Type Stock exchange
Location Mumbai,, India
Founded 1992
Owner National Stock Exchange of India
Limited
Key people Chitra Ramkrishna (MD &CEO)
Currency Indian rupee
No. of listings 1,696
Market cap US$1.65 trillion (23 Jan 2015)
Volume US$442 billion (June 2014)
Indices CNX Nifty
CNX Nifty Junior
CNX 500
Website www.nseindia.com

23. NSE offers trading, clearing and settlement services in equity, equity derivatives, debt and
currency derivatives segments. It is the first exchange in India to introduce electronic trading
facility thus connecting together the investor base of the entire country. NSE has 2500 VSATs
and 3000 leased lines spread over more than 2000 cities across India.
The exchange was incorporated in 1992 as a tax-paying company and was recognized as a stock
exchange in 1993 under the Securities Contracts (Regulation) Act, 1956, when P. V. Narasimha
Rao was the Prime Minister of India and Manmohan Singh was the Finance Minister. NSE
commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The capital
market (equities) segment of the NSE commenced operations in November 1994, while
operations in the derivatives segment commenced in June 2000.
How NSE brought about a paradigm shift in financial market
NSE was mainly set up to bring in transparency in the markets. Instead of trading membership
being confined to a group of brokers, NSE ensured that anyone who was qualified, experienced
and met minimum financial requirements was allowed to trade. In this context, NSE was ahead
of its times when it separated ownership and management in the exchange under SEBI's
supervision. The price information which could earlier be accessed only by a handful of people
could now be seen by a client in a remote location with the same ease. The paper-based
settlement was replaced by electronic depository-based accounts and settlement of trades was
always done on time. One of the most critical changes was that a robust risk management system
was set in place, so that settlement guarantees could protect investors against broker defaults.
NSE was also instrumental in creating the National Securities Depository Limited (NSDL) which
allows investors to securely hold and transfer their shares and bonds electronically. It also allows
investors to hold and trade in as few as one share or bond. This not only made holding financial
instruments convenient, but more importantly eliminated the need for paper certificates and
greatly reduced the incidents of forged or fake certificates and fraudulent transactions that had
plagued the Indian stock market. The NSDL's security, combined with the transparency, lower
transaction prices and efficiency that NSE offered, greatly increased the attractiveness of the
Indian stock market to domestic and international investors.

24. Markets
NSE offers trading in the following segments:
Equities
Equities
Indices
Mutual Funds
Exchange Traded Funds
Initial Public Offerings
Security Lending and Borrowing Scheme
Derivatives
Equity Derivatives (including Global Indices like CNX 500, Dow Jones and FTSE)
Currency Derivatives
Interest Rate Futures
Debt
Corporate Bonds
Equity Derivatives
The National Stock Exchange of India Limited (NSE) commenced trading in derivatives with the
launch of index futures on 12 June 2000. The futures and options segment of NSE has made a
global mark. In the Futures and Options segment, trading in CNX Nifty Index, CNX IT index,
Bank Nifty Index, Nifty Midcap 50 index and single stock futures are available. Trading in Mini
Nifty Futures & Options and Long term Options on CNX Nifty are also available. The average
daily turnover in the F&O Segment of the Exchange during the financial year April 2013 to
March 2014 stood at Rs 1,52,236 crore.

25. On 29 August 2011, National Stock Exchange launched derivative contracts on the world’s most
followed equity indices, the S&P 500 and the Dow Jones Industrial Average. NSE is the first
Indian exchange to launch global indices. This is also the first time in the world that futures
contracts on the S&P 500 index were introduced and listed on an exchange outside of their home
country, USA. The new contracts include futures on both the DJIA and the S&P 500, and options
on the S&P 500.
On 3 May 2012, the National Stock exchange launched derivative contracts (futures and options)
on FTSE 100, the widely tracked index of the UK equity stock market. This was the first of its
kind of an index of the UK equity stock market launched in India. FTSE 100 includes 100 largest
UK listed blue chip companies and has given returns of 17.8 per cent on investment over three
years. The index constitutes 85.6 per cent of UK’s equity market cap.
On 10 January 2013, the National Stock Exchange signed a letter of intent with the Japan
Exchange Group, Inc. (JPX) on preparing for the launch of CNX Nifty Index futures, a
representative stock price index of India, on the Osaka Securities Exchange Co., Ltd. (OSE), a
subsidiary of JPX.
Moving forward, both parties will make preparations for the listing of yen-denominated CNX
Nifty Index futures by March 2014, the integration date of the derivatives markets of OSE and
Tokyo Stock Exchange, Inc. (TSE), a subsidiary of JPX. This is the first time that retail and
institutional investors in Japan will be able to take a view on the Indian markets, in addition to
current ETFs, in their own currency and in their own time zone. Investors will therefore not face
any currency risk, because they will not have to invest in dollar denominated or rupee
denominated contracts.
Currency Derivatives
In August 2008, currency derivatives were introduced in India with the launch of Currency
Futures in USD INR by NSE. It also added currency futures in Euros, Pounds and Yen. The
average daily turnover in the F&O Segment of the Exchange on 20 June 2013 stood at Rs
41,926.16 crore in futures and Rs 27,397.70 crore in options, respectively.
Interest Rate Futures
In December 2013, exchanges in India received approval from market regulator SEBI for
launching interest rate futures (IRFs) on a single GOI bond or a basket of bonds that will be cash
settled. Market participants have been in favor of the product being cash settled and being
available on a single bond. NSE will launch the NSE Bond Futures on 21 January on highly
liquid 7.16 percent and 8.83 percent 10-year GOI bonds. Interest Rate Futures were introduced

26. for the first time in India by NSE on 31 August 2009, exactly one year after the launch of
Currency Futures. NSE became the first stock exchange to get an approval for interest-rate
futures, as recommended by the SEBI-RBI committee.
Debt Market
On 13 May 2013, NSE launched India's first dedicated debt platform to provide a liquid and
transparent trading platform or debt related products.
The Debt segment provides an opportunity to retail investors to invest in corporate bonds on a
liquid and transparent exchange platform. It also helps institutions who are holders of corporate
bonds. It is an ideal platform to buy and sell at optimum prices and help Corporate to get
adequate demand, when they are issuing the bonds.
Trading schedule
Trading on the equities segment takes place on all days of the week (except Saturdays and
Sundays and holidays declared by the Exchange in advance). The market timings of the equities
segment are:
(1) Pre-open session
Order entry & modification Open: 09:00 hrs
Order entry & modification Close: 09:08 hrs*
*with random closure in last one minute. Pre-open order matching starts immediately after close
of pre-open order entry.
(2) Regular trading session
Normal/Retail Debt/Limited Physical Market Open: 09:15 hrs
Normal/Retail Debt/Limited Physical Market Close: 15:30 hrs.

27. Exchange Traded Funds and Derivatives on
National Stock Exchange
The following products are trading on CNX Nifty Index in the Indian and international Market:
7 Asset Management Companies have launched exchange-traded funds on CNX Nifty Index
which are listed on NSE
15 index funds have been launched on CNX Nifty Index
Unit linked products have been launched on CNX Nifty Index by several insurance companies in
India
World Indices
Derivatives Trading on CNX Nifty Index:
Futures and Options trading on CNX Nifty Index
Trading in CNX Nifty Index Futures on Singapore Stock Exchange (SGX)
Trading in CNX Nifty Index Futures on Chicago Mercantile Exchange (CME)
Technology
NSE’s trading systems, is a state of-the-art application. It has an up time record of 99.99% and
processes more than 450 million messages every day with sub millisecond response time.
NSE has taken huge strides in technology in these 20 years. In 1994, when trading started, NSE
technology was handling 2 orders a second. This increased to 60 orders a second in 2001. Today
NSE can handle 1, 60,000 orders/messages per second, with infinite ability to scale up at short
notice on demand, NSE have continuously worked towards ensuring that the settlement cycle
comes down. Settlements have always been handled smoothly. The settlement cycle has been
reduced from T+3 to T+2/T+1.

28. References
http://www.world-exchanges.org/statistics/monthly-reports
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World-exchanges.org
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"Bombay Stock Exchange (BSE) commits to promoting sustainability". UNCTAD.
Bsp; — tie up with Netmagic.com
22 February 2012 Launch of BSE-GREENEX to promote investments in Green India
13 March 2012 Launch of BSE — SME Exchange Platform
30 March 2012 BSE launched trading in BRICSMART indices derivatives
19 February 2013 – SENSEX becomes S&P SENSEX
Vyas Mohan (19 February 2013). "Sensex to carry S&P tag". Livemint. Retrieved14 June 2013.
Our Bureau. "BSE trading from Hyderabad DR site". The Hindu Business Line.
"BSE becomes world's fastest stock exchange: Ashishkumar Chauhan - The Economic
Times". The Economic Times. Retrieved 2016-01-10.
Market Hours, Bombay Stock Exchange via Wikinvest
"BSEIndia". BSEIndia. Retrieved 26 August 2010.
"BSE SENSEX Index Chart — Yahoo! Finance". Finance.yahoo.com. Retrieved 28 July2010.
http://www.reutersindia.net/ Asia Technical Analysis with Phil Smith