Wednesday, 12 November 2014

CHAPTER 2C : Market Fundamentals - Exchanges and Indices (Equity)

Stock Exchange

A stock exchange or share market is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends.

There are 2 recognized Stock Exchanges in India for Share Trading:

A. BSE (Bombay Stock Exchange) is the oldest stock exchange in Asia with a rich heritage, now spanning three centuries in its 133 years of existence. What is now popularly known as BSE was established as "The Native Share & Stock Brokers' Association" in 1875, there are around 5000 + shares listed on BSE.

B. NSE (National Stock Exchange) was incorporated in November 1992 and currently has around 1500 shares listed and has a trading facility for Cash, Derivative and Currency derivative products. The highest turnover in Indian Equity markets happen on NSE currently.
These are an Electronic platform based trading exchanges graduated from the traditional OTC (over the counter) mode of trading.

Stock Market Index

stock index or stock market index is a measurement of the value of a section of the stock market. It is computed from the weighted average prices of selected stocks. It is a tool used by investors and financial managers to describe the market, and to compare the return on specific investments.

Sensex and Nifty are the two major indices of Indian Share Market. The Sensex is an indicator of all the major companies of the BSE. The Nifty is an indicator of all the major companies of the NSE. If the Sensex goes up, it means that the prices of the stocks of most of the major companies on the BSE have gone up. If the Sensex goes down, this tells you that the stock price of most of the major stocks on the BSE have gone down. Same goes for Nifty and NSE.

Besides Sensex and the Nifty there are many other indexes. There is an index that gives you an idea about whether the mid-cap stocks go up and down. This is called the “BSE Mid-cap Index”. There is an index for the metal stocks. There is an index for the FMCG stocks. There is an index for the automobile stocks etc. There are many other types of indexes.



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