Crisis of Karachi Stock Exchange
April 20 : Karachi Stock Exchange achieved a major milestone when KSE-100 Index crossed the psychological level of 15,000 for the first time in its history and peaked 15,737.32 on 20 April, 2008. Moreover, the increase of 7.4 per cent in 2008 made it the best performer among major emerging markets.[2] [3]
May 23: Record high inflation in the month of May, 2008 resulted in the unexpected increase in the interest rates by State Bank of Pakistan which eventually resulted in sharp fall in Karachi Stock Exchange.[4] [5]
July 17 :Angry investors attacked the Karachi Stock Exchange in protest at plunging Pakistani share prices. [6] [7]
July 16 : KSE-100 Index dropped one-third from an all-time high hit in April, 2008 as rising pressure on shaky Pakistan's coalition government to tackle Taliban militants exacerbates concern about the country's economic woes. [8]
August 18: KSE 100 Index rose more than 4% after the announcement of the resignation of President Pervez Musharraf but Credit Suisse Group said that Pakistan's Post-Musharraf rally in Stock Exchange will be short-lived because of a rising fiscal deficit and runaway inflation. [9] [10]
August 28 :Karachi Stock Exchange set a floor for stock prices to halt a plunge that has wiped out $36.9 billion of market value since April. [11]
December 15: Trading resumes after the removal of floor on stock prices that was set on August 28 to halt sharp falls.
Monday, June 8, 2009
KARACHI STOCK EXCHANGE INFORMATION
Type
Stock Exchange
Location
Karachi, Pakistan
Owner
Karachi Stock Exchange Limited
Key people
Adnan Afridi, CEO
Currency
PKR
No. of listings
671
MarketCap
US$ 56 billion
Volume
US$ 12 billion
Indexes
KSE 100 IndexKSE-30 Index
Website
www.kse.com.pk
Monday, June 1, 2009
Domestic Arbitrage
Domestic Arbitrage exits between the difference in prices in the cash and futures markets. When you take positions in the cash market you have to either pay or give deliveries at the end of the day for any outstanding position. The position you take in the futures market can be carried forward till the expiry of the contract on the last Thursday of the month (see derivatives section for more information). The person who buys or sells shares in the futures market only pays a margin of between 20-40% (in normal times) of the total value of the position so is getting leverage on the position that he is taking.
Therefore in times of bullishness investors are willing to pay a slight premium to the underlying cash price in the futures market as they expect the stock to rise in the short term and are willing to pay the premium (discounts do also happen at times of dividend and bearishness in the stocks and thus no arbitrage would exist unless one previously held the underlying stock).
For example if Reliance is trading at Rs.500 in the cash market, at the beginning of the new futures contract it may be trading at Rs.505. The investor who buys at Rs.505 has the full month to hold the position and has the option to roll it over to the next month at any time before expiry.
The arbitrageur to take advantage of this buys Reliance in the cash market and simultaneously sells in the futures market locking in a profit of Rs.5 (before charges). Whether the price of the stock moves up or down he is secured with his return. In the normal course of events the gap decreases towards the end of the month and the arbitrageur will either reverse the position in both markets or rollover the futures position to the next month if the new gap is acceptable to him. The return is calculated on the amount of funds deployed for the fixed time period to expiry. If the gaps comes down before expiry the arbitrageur can exit the position and enter into a new stock where the gap is better.
Brokerages on the above are charged differently (lower than normal trading brokerages) due to the small spreads and are dependent on volumes. Minimum amount should be Rs.10 lacs due to the high value of futures contracts. Margins have to be paid in addition to the investment made in the cash market which must also be factored in when calculating returns.
This is a risk free investment which suits investors who have idle funds in bank fixed deposits as one should expect a taxable return of 12-18% per annum as per the recent past and market outlook. If returns dip the investor can take his funds back within 3 days. Investors must take advice from their accountants on the tax implications on this type of trading.
The above is a general overview of the process and for more detailed information please contact us.
Close Rates
We at JV CAPITAL SERVICES bring you simple yet utilitarian tools to enhance your trading experience. These are free to download and distribute. You may not sell them or charge any fee for usage from third parties. Since these are free utilities, we offer no support / tutorials pertaining to their usage. We also do not undertake to guarantee the accuracy and functionality of these products. The site visitors undertake to satisfy themselves of the same at their own end.
Daily quotation file of the NSE & Marketwide limits
These daily quotation files are downloaded from the NSE directly. Click on the links below to download the respective files.
Download the daily cash prices.
Download futures prices.
Cash Markets
If you have ever bought or sold shares through a Stock Broker, you will know that it can be very expensive, especially for smaller transaction. If you are looking for a cost effective, focused service, with the most competitive handling fees per transaction you should find that our Dealing Service is the best way to buy and sell your shares. Open an AccountJV Capital Services - a Member of the National Stock Exchange of India and a Dealer of the Over The Counter Exchange of India, as well as having a live Delhi and Bombay Stock Exchange terminals in our offices. It provides our clients with a first class service, whether you are an experienced investor, or trying to get to grips with the Stock Market for the first time.Our Share Dealing Telephone Service is available to answer your queries. Call it up for up to date facts and figures on all the markets before you make your investment decisions. One of our experienced executives will be pleased to give you an advisory service should you require it. We offer two types of Broking Services :-Execution-Only ServiceOur standard level of service where clients can telephone or Email their orders to us. The order will be confirmed by a trader. The clients can check back at any time to confirm whether the trade has been executed or not. A confirmation of the trades will be sent at the end of the trading session. Payments / deliveries etc. should be sent or picked up by clients. Contract notes will be sent by post.This service will attract our lowest level of brokerage.Advisory ServiceYou will be assigned two personal traders. One principal and one backup person, who will be responsible for all your orders and confirming trades executed. They will update you on any significant movements in the market and your shares. You will be given our recommendations for buying, selling and holding scrips, if you desire. More importantly you will be advised on whether the scrip is speculative or for delivery and when one should enter or exit the scrip. Confirmations will be faxed, emailed or given on the telephone. Deliveries , cheques and all other documents will be collected by us for local clients.This service is for those clients who prefer a more value added personal service.This service will attract a slightly higher brokerage than Execution Only.
List of Mutual Fund Companies in India
1. Reliance Mutual Funds
2. HDFC
3. Fidelity
4. Franklin Templeton
5. ABN Amro
6. AIG
7. Bank of Baroda
8. Birla Sun Life
9. Canara Bank
10. DBS Chola Mandalam AMC
11. DSP Merrill Lynch
12. Deutsche Bank
13. Escorts Mutual
14. HSBC
15. ICICI Prudential
16. ING
17. JM Financial
18. JP Morgan
19. Kotak Mahindra
20. LIC
21. Lotus India
22. Morgan Stanley
23. Principal
24. Quantum
25. State Bank of India (SBI)
26. Sahara Mutual Funds
27. Standard Chartered
28. Sundaram BNP Paribas
29. Tata
30. Taurus Mutual Funds
31. UTI
32. Benchmark Funds
2. HDFC
3. Fidelity
4. Franklin Templeton
5. ABN Amro
6. AIG
7. Bank of Baroda
8. Birla Sun Life
9. Canara Bank
10. DBS Chola Mandalam AMC
11. DSP Merrill Lynch
12. Deutsche Bank
13. Escorts Mutual
14. HSBC
15. ICICI Prudential
16. ING
17. JM Financial
18. JP Morgan
19. Kotak Mahindra
20. LIC
21. Lotus India
22. Morgan Stanley
23. Principal
24. Quantum
25. State Bank of India (SBI)
26. Sahara Mutual Funds
27. Standard Chartered
28. Sundaram BNP Paribas
29. Tata
30. Taurus Mutual Funds
31. UTI
32. Benchmark Funds
What is an Indexed Mutual Fund and when should you buy it
Shubhojit Chatterjee asks “Can you please help us to know how to trade in Sensex as we are trading through ICICI Direct and they don’t have access to NSE”.
First lets review what an indexed mutual fund is. Indexed funds are an investment vehicle that aims to replicate movements of an index of a financial market such as NSE or BSE. For Indian investors that means a fund that will do as well or as poorly as the SENSEX or Nifty. These indexed funds will own all the securities of that index. So, for SENSEX index fund that means owning shares in all 30 companies that make up the index. Its usually a computer model that drives this fund not human stock picking. This also means lower management costs and fees because its mostly automated.
For the Indian market however the indices are fairly narrow so you dont actually get to capture the broad market, but a basket of stocks. (Editorial note: you would have done well though in the last 9 months!).
Here is a list of (maybe not complete) of Index funds that track the SENSEX:
1. HDFC funds
2. Franklin India BSE Sensex Fund & Nifty fund
3. Tata SENSEX fund
4. LIC MF Index Fund SENSEX & Nifty
5. UTI Master Index plan
Over the past few years funds that tracked Nifty have had a better risk / reward return (beta) than those that tracked SENSEX, since the Sensex is more volatile, and most funds that track the Sensex dont do as good a job as those that do Nifty.
Filed under: Uncategorized Tagged: SENSEX, Nifty, Indexed Fund, Mutual Fund, Index fund, Franklin India Fund, LIC funds, UTI Funds, Tata funds, HDFC Funds 7 Comments »
First lets review what an indexed mutual fund is. Indexed funds are an investment vehicle that aims to replicate movements of an index of a financial market such as NSE or BSE. For Indian investors that means a fund that will do as well or as poorly as the SENSEX or Nifty. These indexed funds will own all the securities of that index. So, for SENSEX index fund that means owning shares in all 30 companies that make up the index. Its usually a computer model that drives this fund not human stock picking. This also means lower management costs and fees because its mostly automated.
For the Indian market however the indices are fairly narrow so you dont actually get to capture the broad market, but a basket of stocks. (Editorial note: you would have done well though in the last 9 months!).
Here is a list of (maybe not complete) of Index funds that track the SENSEX:
1. HDFC funds
2. Franklin India BSE Sensex Fund & Nifty fund
3. Tata SENSEX fund
4. LIC MF Index Fund SENSEX & Nifty
5. UTI Master Index plan
Over the past few years funds that tracked Nifty have had a better risk / reward return (beta) than those that tracked SENSEX, since the Sensex is more volatile, and most funds that track the Sensex dont do as good a job as those that do Nifty.
Filed under: Uncategorized Tagged: SENSEX, Nifty, Indexed Fund, Mutual Fund, Index fund, Franklin India Fund, LIC funds, UTI Funds, Tata funds, HDFC Funds 7 Comments »
Sunday, May 31, 2009
Careers of KSE
Our CommitmentAt KSE, we are committed to developing, challenging and inspiring our most important asset, our people. We aim to build an organization of high performing professionals with varied perspectives, skills and experiences. Once on board, our employees are exposed to an organizational commitment to continuous personal and professional development and training. Our people get involved in various initiatives ranging from management skills development and personal improvement to technology advancement and process enhancement.
Your OpportunityWorking at KSE is an exciting opportunity for individuals who can deliver the highest standard of ethics, performance, esteem and professionalism. Moreover, to ensure the future success of the KSE, the Exchange is committed to creating and maintaining a culture that fosters an all-encompassing, diverse workforce and an environment in which every employee has an opportunity to explore the full scope of their ability.
Our Selection Process Joining the KSE family requires passing through an elaborate recruitment process where candidate’s technical and personal attributes are evaluated rigorously. Evaluation process assesses a candidate's analytical capabilities and functional knowledge. The process gauges each individual's energy, quick thinking ability, confidence, decision making ability, integrity and professionalism - attributes that define the person's compatibility to the KSE culture.
Our Working Environment and Your CareerNew employees, after joining KSE can expect progressive environment and the opportunity to reap the rewards of their success. At KSE, each employee has the opportunity for a steady and highly competitive path of both professional and personal growth. The Company's Total Remuneration package is competitively aligned to the best in the industry and is appropriately balanced between providing cash compensation and benefits, including perquisites, medical and retirement benefits. The annual salary rewards are linked to employee performance. We have a mentoring program where our best performers get selected for personal and professional grooming of their protégés towards positions of greater responsibility and influence. KSE gives new entrants a chance to work with the best and brightest in the capital market business.How to apply:Please send your resume via email to: hr@kse.com.pk
Your OpportunityWorking at KSE is an exciting opportunity for individuals who can deliver the highest standard of ethics, performance, esteem and professionalism. Moreover, to ensure the future success of the KSE, the Exchange is committed to creating and maintaining a culture that fosters an all-encompassing, diverse workforce and an environment in which every employee has an opportunity to explore the full scope of their ability.
Our Selection Process Joining the KSE family requires passing through an elaborate recruitment process where candidate’s technical and personal attributes are evaluated rigorously. Evaluation process assesses a candidate's analytical capabilities and functional knowledge. The process gauges each individual's energy, quick thinking ability, confidence, decision making ability, integrity and professionalism - attributes that define the person's compatibility to the KSE culture.
Our Working Environment and Your CareerNew employees, after joining KSE can expect progressive environment and the opportunity to reap the rewards of their success. At KSE, each employee has the opportunity for a steady and highly competitive path of both professional and personal growth. The Company's Total Remuneration package is competitively aligned to the best in the industry and is appropriately balanced between providing cash compensation and benefits, including perquisites, medical and retirement benefits. The annual salary rewards are linked to employee performance. We have a mentoring program where our best performers get selected for personal and professional grooming of their protégés towards positions of greater responsibility and influence. KSE gives new entrants a chance to work with the best and brightest in the capital market business.How to apply:Please send your resume via email to: hr@kse.com.pk
Products & Services
mKATSIntroduction:
Karachi Stock Exchange introduces mobile Karachi Automated Trading System (mKATS), the only official real-time mobile enabled stock service by the Exchange. With mKATS, an SMS and IVR based service you can now access real-time data of the stock market at your convenience, both via text and audible message.
ActivationThis service does not require activation, and is available to Pre and Postpaid subscribers of all GSM networks in Pakistan.
SMS ServicesYou can view stock information at any time by sending a simple SMS to 573 (KSE) with the following keywords:
Send an SMS with text " MENU" to get a complete list of mKATS commands
Send an SMS with text " INDEX" to get detailed information on all KSE Indices
Send an SMS with text " U VOL" or " D VOL" to get a list of stocks with the most/least volume movement
Send an SMS with text "U PR" or "D PR" to get a list of stocks with the most/least price movement
Send an SMS with text "MSTAT" to get the overall market statistics
Send an SMS with text "SS
* Charges for each SMS will be Rs. 3 + taxIVR ServiceListen to live market rates, by simply dialing 573 (KSE) from your cell phone in the following seven languages:
English
Urdu
Sindhi
Gujrati
Punjabi
Pushto
Balochi
* Charges for IVR is Rs. 3 + tax per minute
REGULATION OF NYSE
NYSE RegulationA U.S. not-for-profit corporation that regulates the NYSE and oversees regulation of NYSE Arca and NYSE Amex.
NYSE Arca RegulationRegulates NYSE Arca equities and options markets, plus trading of permit holders
NYSE Amex RegulationThe American Stock Exchange, now renamed, has NYSE Regulation oversight
NYSE Amex Options RegulationNYSE Amex has contracted with FINRA to perform certain regulatory responsibilities for NYSE Amex Options.
Euronext RegulationThere are two types of regulated markets organised by Euronext
NYSE Liffe RegulationAccess key regulatory documents of the London market
NYSE Liffe U.S. RegulationA Designated Contract Market or Futures Exchange authorized by the U.S. Commodity Futures Trading Commission
Complaints & InquiriesDo you have a question about NYSE Regulation? Or do you have a complaint to file against a member firm or individual broker? If so, here’s where to get started
NYSE Arca RegulationRegulates NYSE Arca equities and options markets, plus trading of permit holders
NYSE Amex RegulationThe American Stock Exchange, now renamed, has NYSE Regulation oversight
NYSE Amex Options RegulationNYSE Amex has contracted with FINRA to perform certain regulatory responsibilities for NYSE Amex Options.
Euronext RegulationThere are two types of regulated markets organised by Euronext
NYSE Liffe RegulationAccess key regulatory documents of the London market
NYSE Liffe U.S. RegulationA Designated Contract Market or Futures Exchange authorized by the U.S. Commodity Futures Trading Commission
Complaints & InquiriesDo you have a question about NYSE Regulation? Or do you have a complaint to file against a member firm or individual broker? If so, here’s where to get started
Global Connectivity
Global Connectivity
Introducing the Secure Financial Transaction Infrastructure® (SFTI®)
NYSE Technologies' Global Connectivity business provides universal access to the network and facilities infrastructure of the world's leading markets.
We provide Software-As-Service solutions through our community platform on the SFTI network. You can access innovative third party applications from technology providers such as Progress Apama.
Trading firms gain one-stop connectivity to markets, with a choice of technology at every stage of workflow. By renting electronic trading capability rather than running these systems in-house, you can realise cost savings and keep up with the latest technology enhancements.
Market centers have the option of core access to NYSE Euronext's exchanges and other major markets, and business-to-business access to non-core markets.
There are multiple access solutions to suit your needs, connecting directly via backbone or through extended reach with extranet partners.
NYSE Euronext,
NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., was launched on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world ' s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in seven countries and eight derivatives exchanges, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. See also: www.euronext.comTop Three Stock Exchanges
World-Stock-Exchanges.net features a list of world stock exchanges, securities commissions and other regulatory agencies, as well as stock market resources.
List provides links to stock and commodity exchanges worldwide, including those dealing in futures, options, and derivatives.
Top Three Stock Exchanges
New York Stock Exchange (NYSE) - the largest stock exchange in the world by dollar volume and over 2500 listed securities.
NYSE is operated by NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V. NYSE is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.
Tokyo Stock Exchange - the second largest stock exchange market in the world by market value. Lists 2,271 domestic companies and 31 foreign companies, with a total market capitalization of over 5 trillion USD.
London Stock Exchange - the world's oldest stock exchange and one of the top three stock exchanges in the world. Lists around 3000 companies. Total equity turnover value of more than Ј3.5 billion.
List provides links to stock and commodity exchanges worldwide, including those dealing in futures, options, and derivatives.
Top Three Stock Exchanges
New York Stock Exchange (NYSE) - the largest stock exchange in the world by dollar volume and over 2500 listed securities.
NYSE is operated by NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V. NYSE is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.
Tokyo Stock Exchange - the second largest stock exchange market in the world by market value. Lists 2,271 domestic companies and 31 foreign companies, with a total market capitalization of over 5 trillion USD.
London Stock Exchange - the world's oldest stock exchange and one of the top three stock exchanges in the world. Lists around 3000 companies. Total equity turnover value of more than Ј3.5 billion.
Development of the WSE Platform
Development of the WSE Platform
Initial platform(WSE 1.0)
The WSE initially used a stock trading system operating within Second Life, but that system was discontinued because of the limits of the Linden Scripting Language(LSL), the scripting language used within Second Life.
Second trading platform: A web-based trading platform(WSE 2.x)
In March 2007, the WSE, in cooperation with an existing stock exchange in SL, the Metaverse Stock Exchange(MSE) - which was merged into the WSE - developed a completely new, primarily web-based trading platform, called WSE 2.0. WSE 2.0 introduced better portfolio management features and more options for listed companies. The developer of WSE 2.0, Second Life Solutions CEO Shaun Altman, a Second Life avatar, has been criticized because of the errors in essential parts of the WSE 2.0 system, which was, like all WSE platforms after WSE 1.0, based on the Ruby on Rails web application framework. Because of WSE 2.0, Hope Capital decided to hire a real-world software developers to develop the WSE applications instead of a Second Life avatar reduce their risk exposure to errors and to increase the quality of the platform. It took a time to remove inefficiencies and bugs of WSE 2.0, but, after the fixing of bugs, WSE 2.0 was regarded as the first stable virtual stock exchange platform to be used by users in the virtual world of Second Life.[citation needed]
Final 2.x
The final WSE Trading Platform, version 2, included automatic charting by using Adobe Systems technology. It is still being used as of the start of December 2007 as the WSE's charting system.
The 3.x family of trading platforms: More security, a new currency
The WSE 3.x trading platform family introduced features developed by a real-world Australian software firm and included security enhancements, a new currency, new data for investors and better market data management.
WSE 3.0
WSE 3.0, which was implemented after a Second Life avatar had stolen L$3.2 million from the WSE. Version 3.0 of the WSE trading platform included 256-bit SSL-encryption, bug fixes and an RSS-powered news feed. The WSE 3.0 platform also introduced a new currency: The World Internet Currency, commonly shortened as the "WIC".
WSE 3.1
WSE 3.1 included better data management features to enable better management of the WSE's financial and regulational operations and bug fixes. This version of the World Stock Exchange platform also included the introduction of financial reports.
WSE 3.2: The current version of the WSE's platform
The third 3.x family member, WSE 3.2, included live TV via the WSE website and additional news feeds on the WSE's homepage at its website. Several bugs were also fixed. The website's layout was also slightly changed.
WSE 4.0: First Phase/Second Phase(Currently implemented into WSE 3.2)
The first phase of WSE 4.0 includes extended data, such as P/E and cash-on-hand data. It also includes an integrated application for analysts. Analysts can post their analysis of listings on the WSE website via this system.
WSE 4.0 was successfully re-launched on the 3rd of August, 2008. A new application on the Facebook Platform was added, opening up the WSE service to a new market within Facebook, similar to operations in Second Life. The main WSE website was also relaunched.
New features include an invitation system where users are paid for successful invites, meaning that the people they invite trade virtual securities on the WSE. Advanced orders, like stop and trailing orders, were also introduced. The Facebook Application includes a ranking system.
Friday, May 29, 2009
LAHORESTOCKEXCHANGE IT Services
Trading System: Ultra Trade
View Only Terminals: VOT
Pre-Trade Risk Management Systems: Trade Risk Filter
Clearing & Settlement System: CHS
Dissemination/Reporting System: Lahore Stock Services
Corporate Information System: Corporate Information System
Accounting Systems: AccSys
Smart Stock System: Broker’s Back Office System
Client Trade Risk Filter: Client Level Pre-Trade Margin Control
High Speed Data Display and Feed: Ticker & VendorFeed
Online Trading Solution: BrokerNet
Real-time Surveillance System
Gateway Interface for Straight Through Processing
Website: www.LahoreStock.com
Portfolio Reports for Investors over the website
Stock Buddy: Stock Quotes over the MSN
Remote Electronic Trading Floors: STF, FTF
History Of LAHORE STOCKEXCHANGE
Lahore Stock Exchange was established in October 1970 and is the second largest stock exchange in the country with a market share of around 12-16% in terms of daily traded volumes. LSE has 519 companies, spanning 37 sectors of the economy, that are listed on the Exchange with total listed capital of Rs. 555.67 billion having market capitalization of around Rs. 3.64 trillion. LSE has 152 members of whom 81 are corporate and 54 are individual members.
Activities of Lahore Stock Exchange (LSE) have increased significantly in all operational areas since its inception. Over the years, LSE has successfully met various challenges and has now emerged, fully geared and positioned to aggressively compete with its fellow Exchanges, contributing towards the growth of Capital Markets in Pakistan. Important Developments over the Past YearsA number of significant initiatives have been taken to improve the regulatory regime and the trading environment for the benefit of Institutional Investors as well as listed companies. Although the list of such initiatives is exhaustive, below some of these incentives are touched upon;
LSE was the first Exchange in the country to undertake automation of trading at the exchanges in 1994. LSE has made large investments in technology & automation to keep pace with globalization of securities trading. The Exchange is fully committed to providing a transparent, efficient, fair and investor friendly environment for the benefit of Investors and Issuers. The goal is to bring LSE up to international standards in operational, technical, regulatory and quality management areas and to ensure that not only domestic but also foreign investors are attracted.
LSE has made direct investment in Pakistan Credit Rating Agency (Pvt) Ltd. (PACRA), Central Depository Company Ltd. (CDC), National Clearing Company of Pakistan Ltd. (NCCPL), and National Commodity Exchange Ltd. (NCEL), all of which play a central role in developing the infrastructure around the financial markets of Pakistan. In addition, LSE is an active member of the Federation of Euro-Asian Stock Exchanges (FEAS) and the South Asian Federation of Exchanges (SAFE), helping to expand its outreach, presence and profile beyond the boundaries of Pakistan.
LSE was the first Exchange in Pakistan to offer Internet based trading to its members in the year 2001. It enables the brokers to reach out to the untapped retail markets. Currently, more than 50% of the total trading volume at the LSE originates from Internet trading terminals. The aim of this measure is to transform the LSE from a regional to a national player over a period of time.
LSE has increased its geographical outreach by establishing its branches in other cities of the Province. Two such branch offices have become operational in Faisalabad and Sialkot. Similar Offices in other cities are also being contemplated. LSE’s trading system has already been modified to connect branch offices in real-time fashion. There is a growing need for remote trading terminals reflecting the confidence of traders in the use of stable Internet Trading Systems.
LSE has improved the quality of operations and upgraded them to modern international standards. This has included upgrading LSE’s IT infrastructure, updating regulations and procedures to incorporate existing and expected technological changes, as well as reorganizing and restructuring the workforce. As a result, LSE’s capabilities as both a front-line regulatory body and a service organization have been significantly enhanced.
LSE has successfully launched Unique Identification Number (UIN) System with an objective to bring more efficiency and transparency to the stock business and to improve the surveillance and monitoring capacity of the Exchange.
LSE has implemented a regular timetable for the Broker System Audit, in order to build investors’ confidence. Also, LSE has taken effective risk and exposure management measures including the implementation of a fully automated in-house developed Trade Risk Filter (TRF) to efficiently monitor members’ pre-trading exposures on a real time basis. This has been a quantum leap for LSE in improving its risk management systems.
A visible trend at the LSE has been the increasing number of corporate members. It is heartening to note that part of this increase has been due to the entry of investment banks/financial institutions (or their subsidiaries) as members of the Exchange. An overview of this trend over the past years is as follows:
Activities of Lahore Stock Exchange (LSE) have increased significantly in all operational areas since its inception. Over the years, LSE has successfully met various challenges and has now emerged, fully geared and positioned to aggressively compete with its fellow Exchanges, contributing towards the growth of Capital Markets in Pakistan. Important Developments over the Past YearsA number of significant initiatives have been taken to improve the regulatory regime and the trading environment for the benefit of Institutional Investors as well as listed companies. Although the list of such initiatives is exhaustive, below some of these incentives are touched upon;
LSE was the first Exchange in the country to undertake automation of trading at the exchanges in 1994. LSE has made large investments in technology & automation to keep pace with globalization of securities trading. The Exchange is fully committed to providing a transparent, efficient, fair and investor friendly environment for the benefit of Investors and Issuers. The goal is to bring LSE up to international standards in operational, technical, regulatory and quality management areas and to ensure that not only domestic but also foreign investors are attracted.
LSE has made direct investment in Pakistan Credit Rating Agency (Pvt) Ltd. (PACRA), Central Depository Company Ltd. (CDC), National Clearing Company of Pakistan Ltd. (NCCPL), and National Commodity Exchange Ltd. (NCEL), all of which play a central role in developing the infrastructure around the financial markets of Pakistan. In addition, LSE is an active member of the Federation of Euro-Asian Stock Exchanges (FEAS) and the South Asian Federation of Exchanges (SAFE), helping to expand its outreach, presence and profile beyond the boundaries of Pakistan.
LSE was the first Exchange in Pakistan to offer Internet based trading to its members in the year 2001. It enables the brokers to reach out to the untapped retail markets. Currently, more than 50% of the total trading volume at the LSE originates from Internet trading terminals. The aim of this measure is to transform the LSE from a regional to a national player over a period of time.
LSE has increased its geographical outreach by establishing its branches in other cities of the Province. Two such branch offices have become operational in Faisalabad and Sialkot. Similar Offices in other cities are also being contemplated. LSE’s trading system has already been modified to connect branch offices in real-time fashion. There is a growing need for remote trading terminals reflecting the confidence of traders in the use of stable Internet Trading Systems.
LSE has improved the quality of operations and upgraded them to modern international standards. This has included upgrading LSE’s IT infrastructure, updating regulations and procedures to incorporate existing and expected technological changes, as well as reorganizing and restructuring the workforce. As a result, LSE’s capabilities as both a front-line regulatory body and a service organization have been significantly enhanced.
LSE has successfully launched Unique Identification Number (UIN) System with an objective to bring more efficiency and transparency to the stock business and to improve the surveillance and monitoring capacity of the Exchange.
LSE has implemented a regular timetable for the Broker System Audit, in order to build investors’ confidence. Also, LSE has taken effective risk and exposure management measures including the implementation of a fully automated in-house developed Trade Risk Filter (TRF) to efficiently monitor members’ pre-trading exposures on a real time basis. This has been a quantum leap for LSE in improving its risk management systems.
A visible trend at the LSE has been the increasing number of corporate members. It is heartening to note that part of this increase has been due to the entry of investment banks/financial institutions (or their subsidiaries) as members of the Exchange. An overview of this trend over the past years is as follows:
KSE launches investor facilitation service
KARACHI (May 29, 2009): Karachi Stock Exchange (KSE) has officially launched mKATS, in collaboration with VectraCom (Pvt) Limited on Thursday. The mKATS is an investor facilitation service provided on any hand held mobile set (all mobile operators), by dialling KSE(573) short code or sending an SMS, to receive live KSE Index position, information about any scrip, traded volume etc. The information is sent directly from KSE.
Rental income: SECP proposes rationalisation of taxation
ISLAMABAD (May 29, 2009): Securities and Exchange Commission of Pakistan (SECP) has proposed rationalisation of taxation on rental income in the upcoming budget (2009-2010) to apply uniform tax rate on income from property. Sources told Business Recorder on Thursday that the SECP has proposed amendment in the Income Tax Ordinance 2001 to rationalise tax rate on rental income.
TECHNOLOGY OF ISLAMABAD STOCK EXCHANGE
IT Department
Remote Trading has been implemented in ISE on 23 June 2003. Now Brokers can trading from anywhere in the world using our remote trading software with the same robustness as working on the LAN. You can view the Trading Terminal to see how it works.
Currently Islamabad Stock Exchange IT Department is maintaining a multiple VLAN network of about 250 nodes which is operating at 100 MBPS. ISE is connected with other local stock exchanges and SECP.
Individual Membership
a) Three passport size photographs.
b) Copy of National Identity Card
c) Pay order of RS. 7.5 million in favour of Islamabad Stock Exchange being Membership Admission Fee (Refundable in case if Membership is refused).
d) Affidavit on Rs. 10/- non-judicial Stamp Paper regarding eligibility criteria.
e) Copies of Educational Degrees (Only for graduation and higher levels).
f) Copies of income assessment orders for the last three consecutive years
g) Evidence (s) towards Stock Market experience.
h) A Bank reference.
Corporate Membership
1. Membership application on the prescribed form.
2. Photocopy of Certificate of incorporation.
3. Photocopy of Certificate of Commencement of business (for public company).
4. Audited accounts of Company for the last three years (if the company is in operation for such period).
5. Certificate for the auditors regarding the Shareholders' Equity.
6. Certified copy of resolution of the Directors of company authorizing a person to apply for the membership of the Exchange on behalf of the company (Annex-A)
7. Certified copy of the list of Directors of the company along-with their complete addresses and number of shares held by each of them in the capital of the company.
8. Certified copy of the list of Directors specifying their directorship in other companies.
9. Certified copy of the resolution of the Directors of company nominating one of its Directors to represent the Corporate Membership at the ISE in all respects (Annex-B)
Note: The nominee Director of the company shall not be a member of the ISE nor shall be a nominee of any other Corporate Member of the Exchange.
10. An Undertaking as per specimen (Annex-C)
11. An affidavit by the Chief Executive of the company in the prescribed form (Annex-D)
12. Documents in support of academic qualifications and stock market experience of al-least two Directors (including the Chief Executive).
13. Documents in support of payment of Income Tax (I.T.30s) and wealth tax assessment of at-least two directors for the last three consecutive years.
14. Five copies of Memorandum & Articles of Association of Company.
15. Bank Reference (to be obtained directly from the Bankers of the company named in the membership application).
16. Photocopies of NIC of all Directors of the company.
17. Cheque/Pay Order of Rs. 4,500,000 (Rupees 4.5 million) in favour of Islamabad Stock Exchange (Guarantee) Limited. The balance membership fee of Rs. 3,000,000/- shall be required to be deposited once the letter of intent has been issued to Applicant by the Exchange.
18. Investment portfolio of the company (if applicable);
i) as on the date of application;
ii) average portfolio for the last three years;
iii) clients investments handled during the last three years.
19. Pattern of Shareholding.
20. List of Company Officials;
i) Chief Executive
ii) Secretary
iii) Chief Accountant
iv) Auditors
22. Any other document(s) as may be found necessary in the process of Membership application.
b) Copy of National Identity Card
c) Pay order of RS. 7.5 million in favour of Islamabad Stock Exchange being Membership Admission Fee (Refundable in case if Membership is refused).
d) Affidavit on Rs. 10/- non-judicial Stamp Paper regarding eligibility criteria.
e) Copies of Educational Degrees (Only for graduation and higher levels).
f) Copies of income assessment orders for the last three consecutive years
g) Evidence (s) towards Stock Market experience.
h) A Bank reference.
Corporate Membership
1. Membership application on the prescribed form.
2. Photocopy of Certificate of incorporation.
3. Photocopy of Certificate of Commencement of business (for public company).
4. Audited accounts of Company for the last three years (if the company is in operation for such period).
5. Certificate for the auditors regarding the Shareholders' Equity.
6. Certified copy of resolution of the Directors of company authorizing a person to apply for the membership of the Exchange on behalf of the company (Annex-A)
7. Certified copy of the list of Directors of the company along-with their complete addresses and number of shares held by each of them in the capital of the company.
8. Certified copy of the list of Directors specifying their directorship in other companies.
9. Certified copy of the resolution of the Directors of company nominating one of its Directors to represent the Corporate Membership at the ISE in all respects (Annex-B)
Note: The nominee Director of the company shall not be a member of the ISE nor shall be a nominee of any other Corporate Member of the Exchange.
10. An Undertaking as per specimen (Annex-C)
11. An affidavit by the Chief Executive of the company in the prescribed form (Annex-D)
12. Documents in support of academic qualifications and stock market experience of al-least two Directors (including the Chief Executive).
13. Documents in support of payment of Income Tax (I.T.30s) and wealth tax assessment of at-least two directors for the last three consecutive years.
14. Five copies of Memorandum & Articles of Association of Company.
15. Bank Reference (to be obtained directly from the Bankers of the company named in the membership application).
16. Photocopies of NIC of all Directors of the company.
17. Cheque/Pay Order of Rs. 4,500,000 (Rupees 4.5 million) in favour of Islamabad Stock Exchange (Guarantee) Limited. The balance membership fee of Rs. 3,000,000/- shall be required to be deposited once the letter of intent has been issued to Applicant by the Exchange.
18. Investment portfolio of the company (if applicable);
i) as on the date of application;
ii) average portfolio for the last three years;
iii) clients investments handled during the last three years.
19. Pattern of Shareholding.
20. List of Company Officials;
i) Chief Executive
ii) Secretary
iii) Chief Accountant
iv) Auditors
22. Any other document(s) as may be found necessary in the process of Membership application.
Step wise Guide to become a Member of ISE
Membership can be obtained in two different ways...
1. Fresh Membership
2. Through Nomination/transfer
The Exchange may award fresh membership to the applicant subject to approval of the Board and upon compliance of required formalities. However, a member of the Exchange may transfer his membership to any other nominee under Section 20(a)(b)(c) of the Articles of Association of the Exchange. The price of a fresh membership of Islamabad Stock Exchange is fixed at Rs.7.50 million. However, in case of nomination or transfer the fee is determined by the market forces which is currently ranging from Rs.4.50 million to Rs.5.00 million.
Any individual who complies with the following eligibility criteria as set forth in Article 7 of the Articles of Association can become member of Islamabad Stock Exchange.
Eligibility Criteria
The applicant is not less than twenty one years of age.
He is citizen of Pakistan.
He has not been adjudicated as insolvent or has suspended payment or has compounded with his creditors.
He has not been convicted of an offence involving fraud or breach of trust.
He has not been at any time expelled by this or any other stock exchange.
He has not been previously refused admission to membership, unless a period of one year has elapsed since the date of such rejection.
He is not a lunatic or a person of unsound mind.
He has had the experience in the business of securities for a period of not less than two years provided that the Board may waive this requirement relating to experience in the business of securities if such person, in respect of means, integrity and background, considered by the Board to be otherwise qualified for membership.
He is graduate.
If he is member of another stock exchange, he possesses a minimum experience of 10 years as a broker.
He has paid income tax during the last three years with minimum assessed income of Rs.100,000/.
A corporate body applicant for membership must fulfill the following requirements as laid down in Article 33 of the Articles of Association of Exchange.
Be a company or a statutory corporation or a body corporate.
Have a minimum issued, subscribed and paid up capital of Rs. 5.00 million which minimum limit may be increased by the Directors to be effective after being notified in the official gazette.
In the case of statutory corporation or body corporate to which Section 183 of the Companies Ordinance 1984 applies, the membership application shall be accompanied by a 'no objection' from the Federal or Provincial Government as the case may be.
A prescribed membership form is available from the office of the Exchange. Individual/Corporate Membership Forms are given on the last pages.
Any individual who complies with the following eligibility criteria as set forth in Article 7 of the Articles of Association can become member of Islamabad Stock Exchange.
Eligibility Criteria
The applicant is not less than twenty one years of age.
He is citizen of Pakistan.
He has not been adjudicated as insolvent or has suspended payment or has compounded with his creditors.
He has not been convicted of an offence involving fraud or breach of trust.
He has not been at any time expelled by this or any other stock exchange.
He has not been previously refused admission to membership, unless a period of one year has elapsed since the date of such rejection.
He is not a lunatic or a person of unsound mind.
He has had the experience in the business of securities for a period of not less than two years provided that the Board may waive this requirement relating to experience in the business of securities if such person, in respect of means, integrity and background, considered by the Board to be otherwise qualified for membership.
He is graduate.
If he is member of another stock exchange, he possesses a minimum experience of 10 years as a broker.
He has paid income tax during the last three years with minimum assessed income of Rs.100,000/.
A corporate body applicant for membership must fulfill the following requirements as laid down in Article 33 of the Articles of Association of Exchange.
Be a company or a statutory corporation or a body corporate.
Have a minimum issued, subscribed and paid up capital of Rs. 5.00 million which minimum limit may be increased by the Directors to be effective after being notified in the official gazette.
In the case of statutory corporation or body corporate to which Section 183 of the Companies Ordinance 1984 applies, the membership application shall be accompanied by a 'no objection' from the Federal or Provincial Government as the case may be.
A prescribed membership form is available from the office of the Exchange. Individual/Corporate Membership Forms are given on the last pages.
INVESTER EDUCATION
Islamabad Stock Exchange is fully aware of the importance of investors’ education and believes that by educating the public about stock market investments, further prosperity can be brought in the society. The object of the investor education is to enable a person with absolutely no knowledge of stock exchange to efficiently trade securities and ultimately assist in developing a profitable portfolio.
The ISE has taken the following initiatives towards the investors education:
Launching of website containing comprehensive material and a lot of information about the capital market.
Arrangement of presentations/briefings to the general public about the working and functioning of the stock markets.
Opening of Investors Information Centre for dissemination of information to the general public.
Installation of Investors Hot Line for providing online reply to some basic questions about the stock market. The people may be connected to this Hotline and may have reply of some basic queries. The ISE has obtained a Universal Access Number i.e. 111-600-800
Arranging seminars with speakers of great profile in the corporate sector.
Publishing interviews of the companies CEO and other effective officials on the ISE website.
Publishing the research papers about the capital market.
Companies financial analysis are regularly updated on the website.
Along with this comprehensive information on the variety of subjects like corporate governance, demutualization etc is also available for the respected customers
The ISE has taken the following initiatives towards the investors education:
Launching of website containing comprehensive material and a lot of information about the capital market.
Arrangement of presentations/briefings to the general public about the working and functioning of the stock markets.
Opening of Investors Information Centre for dissemination of information to the general public.
Installation of Investors Hot Line for providing online reply to some basic questions about the stock market. The people may be connected to this Hotline and may have reply of some basic queries. The ISE has obtained a Universal Access Number i.e. 111-600-800
Arranging seminars with speakers of great profile in the corporate sector.
Publishing interviews of the companies CEO and other effective officials on the ISE website.
Publishing the research papers about the capital market.
Companies financial analysis are regularly updated on the website.
Along with this comprehensive information on the variety of subjects like corporate governance, demutualization etc is also available for the respected customers
RULES AND REGULATION OF ISE
ISE, being a self regulatory organization has its own sets of rules and regulations to regulate its various activities including listing of companies/ securities on its ready board quotation, supervision of member firms to enforce compliance with financial and operational requirements, periodic checks on broker’s sales practices, and the continuous monitoring and surveillance of their trade operations.
Following is the list of Rules and Regulations of Islamabad Stock Exchange.
Articles of Association.
Brokers & Agent Registration Rules.
Carry over
Transactions Regulations.
-->
Clearing House Procedure Manual.
General Rules & Regulation of ISE.
Internet Trading Guidelines 2005
ISE Computerized Trading Regulations.
ISE Investors Protection Fund Regulations.
Listing Regulations of ISE.
Members Default and Procedure
for Recovery of Losses Regulations
-->
Memorandum Of Association.
Regulations for Margin Trading
Regulations for Proprietary Trading
Regulations for
Ready Delivery Contracts.
-->
Regulations for Short Selling under Ready Market.
Regulations for Trading in Provisionally Listed Companies.
Regulations
Governing Associate Membership of ISE Clearing House.
-->
Regulations Governing Cash-Settled Futures Contracts of ISE
Regulations Governing Deliverable Futures Contract of ISE
Regulations Governing Future Contracts of ISE.
Regulations Governing ISE Members Offices/ Branch Offices
Regulations
Governing Members Exposure.
-->
Regulations Governing Over-The-Counter(OTC) Market of ISE
Regulations Governing Risk Management of ISE
Regulations Governing System Audit of Members
Unified Trading System Regulations
Following is the list of Rules and Regulations of Islamabad Stock Exchange.
Articles of Association.
Brokers & Agent Registration Rules.
Carry over
Transactions Regulations.
-->
Clearing House Procedure Manual.
General Rules & Regulation of ISE.
Internet Trading Guidelines 2005
ISE Computerized Trading Regulations.
ISE Investors Protection Fund Regulations.
Listing Regulations of ISE.
Members Default and Procedure
for Recovery of Losses Regulations
-->
Memorandum Of Association.
Regulations for Margin Trading
Regulations for Proprietary Trading
Regulations for
Ready Delivery Contracts.
-->
Regulations for Short Selling under Ready Market.
Regulations for Trading in Provisionally Listed Companies.
Regulations
Governing Associate Membership of ISE Clearing House.
-->
Regulations Governing Cash-Settled Futures Contracts of ISE
Regulations Governing Deliverable Futures Contract of ISE
Regulations Governing Future Contracts of ISE.
Regulations Governing ISE Members Offices/ Branch Offices
Regulations
Governing Members Exposure.
-->
Regulations Governing Over-The-Counter(OTC) Market of ISE
Regulations Governing Risk Management of ISE
Regulations Governing System Audit of Members
Unified Trading System Regulations
ORGANIZATION OF ISLAMABAD STOCK EXCHANGE
The Islamabad Stock Exchange (ISE) was incorporated as a guarantee limited Company on 25th October, 1989 in Islamabad Capital territory of Pakistan with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world. The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan.
The ISE has set the highest standards of operational efficiency and is committed to support a climate of confidence and optimism that encourages and promotes trading activity. It also provides for conducive environment to channelize the small investments of the residents of less developed areas. The ISE offers an easy access to both domestic as well as foreign investors and actively encourages the listing of eligible and profitable companies, both large and small to make it an exciting and diverse Exchange. The Exchange is playing a pivotal role for economic growth of the area thereby contributing towards the overall economic prosperity and welfare of the country.
At present there are 118 members out of which 104 are corporate bodies including commercial and investment banks, DFIs and brokerage houses. The other 18 Members are individual persons who are well educated, enterprising and progressive minded. The affairs of the Exchange are governed by the Board of Directors. The Board of Directors consists of ten directors, of which five are elected member directors and four are non-member directors nominated by the SECP while the managing director by virtue of his office is the tenth director of the Board . In order to protect the interest of the investing public, an Investors Protection fund has been established by the Exchange. Since the inception of automated trading system (ISECTS), the trade volume has been multiplying day by day and the average daily turnover has now crossed the figure of 1 million shares. Now all the listed securities are traded through the ISECTS. The system of physical handling of shares and securities has been phased out and majority of the scrips are settled through Central Depository Company of Pakistan Limited. At the moment there are 248 companies/securities listed including 6 Open- End Mutual Fund and 4 TFCS on the Exchange with an aggregate capital of Rs. 572,057.266 million. The market capitalization stood at Rs. 1,943,646.210 million as on 16-12-2008 . The pace of listing has remained slow as the economy of the Country is under consistent pressure due to internal as well as external factors.In comparison with major financial markets around the World, the functioning of capital market in Pakistan is still very much in its infancy and lacks advanced technology. In this context efforts are being made to bring ISE in line with the International system and methodology.
Stock Brokers and Investment Analysis
IntroductionStock exchanges to some extent play an important role as indicators, reflecting the performance of the country's economic state of health. Stock market is a place where securities are bought and sold. It is exposed to a high degree of volatility, prices fluctuate within minutes and are determined by the demand and supply of stocks at a given time. Stock brokers are the ones who buys and sells securities on behalf of individuals and institutions for some commission. The Securities and Exchange Board of India (SEBI) is the authorised body which regulates the operations of stock exchanges, banks and other financial institutions. The past performances in the capital markets specially the securities scam by Harshad Mehta has led to tightening of the operations by SEBI. In addition the international trading and investment exposure has made it imperative to better operational efficiancy. With the view to improve, discipline and bring greater transparency in this sector, constant efforts are being made and to a certain extent improvements have been made. As the condition of capital markets are constantly improving, it has started drawing attention of lot more people than before. On the career related aspects, professionals have opportunities to choose from for a wide range of jobs available in a number of organisations in this sector and one can expect to have good times ahead of him. Nature of WorkIn India capital markets are experiencing radical reformation. The stricter regulatory framework alongwith introduction of information and technology has added more professionalism to the industry. The most common areas of work in the capital markets, one can look forward to include the following. Stock BrokersGiven the present complex situation of our capital markets, stock brokers have to face challenging tasks. The specialized knowledge and professional acumen required has made the job of brokers highly skillful. The work of stock brokers depends upon the kind operations they engage themselves into. Some of the brokers like to practice with individual clients while others work for institutions. Brokers who work for institutional investors are often called securities traders. Many prefer to work as dealers, advisors and securities analysts. Security analysts are those who advise companies on floatations of shares as they are expected to have sound knowledge of capital markets. Brokers also work in the financial sector with banks, mutual funds, consultancies, insurance companies, pension funds and financial institutions etc. Investment AnalysisInvestments in todays capital markets is not something which can always fructify, based on mere guesses. It requires thorough scientific research and analysis to make something out of it. Investment analysts are those who carry out the very same job and help fund managers manage their investments. They can work as stock broking analysts or as institutional analysts. The expertise and experience, though it varies from individual to individual, in the subject of capital markets makes them suitable to handle high value investment decisions of merchant banks, insurance and pension funds and other financial institutions. With diversification of financial sector into vast and complex fields, investment analysts usually specialize in a particular field so that they can give their best. The work of investment analysts include studying the companies financial reports, assess various statistical information, estimate demand and supply factors, profitability projections, compare financial results, visit the organisaton, meet the management, survey the industry as a whole and on the basis of the available information, finally conclude to a decision.
Rules for investing in mutual funds
Be a long-term investorYou should have a long term horizon. Short-term trading will make brokers rich and not investors and the income tax department will also be happy. Mutual funds are diversified and therefore, their gains and losses are likely to be lower than what it would be in case you are investing in an individual security. However, major fluctuations are highly uncommon in mutual funds. So what make sense is to leave your capital in a mutual fund for a long time and let it compound. So the key point is Buy and Hold. It also requires to you do a reality check on yourselves so that you can define your goals and priorities before entering the market.
window.google_render_ad();
Start EarlyWhen you invest in the market is more important than the market timing. Always enter the market with long term thinking. Do proper researches before investing set your priorities and goals, ascertain your risk profile. Also very importantly you should keep yourself abreast with the daily market news. One should not do impulsive purchase allowing emotions overpowering the sense of reason.
Know yourself and then What You Are BuyingThe first step towards achieving your goals would be to know yourself, your risk appetite and accordingly make the investments. Once you have discovered yourself, explore the market and find out the kind of funds available in the market. Firstly, get a hang on the style and strategy followed by a fund by reading the available material. This will help in diversifying the portfolio and also in assessing potential risks. In general, large-cap value funds are less risky than small-cap growth funds.Be A Disciplined InvestorOnce you've chosen some funds, you may stick with them. It is not necessary that one should always go with the tide. Even the unpopular groups tend to outperform in subsequent years. Investing a regular amount of money at regular intervals may add a good value to your portfolio. Make a systematic investment plan which in all probability likely to offer reasonable returns.Know How Much You PayThere is one famous saying that Money saved is money earned. So it's always better to pay less than it is to pay more. Expenses are very important with your larger-cap, lower-risk funds, and less critical with small-cap funds and other higher-risk categories. You can afford to be lenient with the expense of a small-cap or a sector equity fund. Actually, the strength of the mutual fund lies in its simplicity. Don't follow the bandwagon
window.google_render_ad();
Start EarlyWhen you invest in the market is more important than the market timing. Always enter the market with long term thinking. Do proper researches before investing set your priorities and goals, ascertain your risk profile. Also very importantly you should keep yourself abreast with the daily market news. One should not do impulsive purchase allowing emotions overpowering the sense of reason.
Know yourself and then What You Are BuyingThe first step towards achieving your goals would be to know yourself, your risk appetite and accordingly make the investments. Once you have discovered yourself, explore the market and find out the kind of funds available in the market. Firstly, get a hang on the style and strategy followed by a fund by reading the available material. This will help in diversifying the portfolio and also in assessing potential risks. In general, large-cap value funds are less risky than small-cap growth funds.Be A Disciplined InvestorOnce you've chosen some funds, you may stick with them. It is not necessary that one should always go with the tide. Even the unpopular groups tend to outperform in subsequent years. Investing a regular amount of money at regular intervals may add a good value to your portfolio. Make a systematic investment plan which in all probability likely to offer reasonable returns.Know How Much You PayThere is one famous saying that Money saved is money earned. So it's always better to pay less than it is to pay more. Expenses are very important with your larger-cap, lower-risk funds, and less critical with small-cap funds and other higher-risk categories. You can afford to be lenient with the expense of a small-cap or a sector equity fund. Actually, the strength of the mutual fund lies in its simplicity. Don't follow the bandwagon
Mutual Funds
Mutual funds are money-managing institutions set up to professionally invest the money pooled in from the public. These schemes are managed by Asset Management Companies (AMC), which are sponsored by different financial institutions or companies. Each unit of these schemes reflects the share of investor in the respective fund and its appreciation is judged by the Net Asset Value (NAV) of the scheme. The NAV is directly linked to the bullish and bearish trends of the markets as the pooled money is invested either inequity shares or in debentures or treasury bills. Indian Mutual Funds unveils this multi-dimensional avenue, with its intricacies, in a fashionable manner as mutual funds up-hold ample scope of generating decent returns by some thoughtful investment. Background of the Art Mutual fund units and shares are purchased through a broker or directly from the mutual fund. The mutual fund and purchaser decide for themselves whether they wish to deal through brokers or deal directly without a broker. In this description, the term "portions" will be used to refer to all shares or units in a mutual fund, as those terms are defined by established practice with. For the purposes of the invention, whether a mutual fund is structured to distribute shares or units is irrelevant since the method is applied to each type of holding in the same way.One means of providing brokers with compensation involves a mutual fund selling scheme known as "front end loaded" where the broker is given a commission based on a percentage of the total price of portions purchased. For example, if a purchaser wishes to purchase 100 portions of $10 value each, the up-front purchase price paid is $1050 of which $1000 is invested in the mutual fund and $50 commission or 5% service fee goes to the broker.Another compensation scheme is known as "back end loaded" or "deferred sales charge". Deferred sales operate in a manner which effectively hides the compensation to the mutual fund broker from the purchaser. Following the same example, the up-front price paid by the purchaser for the same purchase (100 portions at $10 each) is $1000. However, the broker is paid a service fee of $50 or 5% immediately by the mutual fund. To pay the broker, the mutual fund must borrow the $50 and mutual funds initially operate at a deficit for this reason until they become well established. Of course there are various provisions to penalize purchasers if they wish to sell their portions before a period after the initial sale to recoup the broker service fee, mutual fund management expenses and discourage migration of capital. For example, a penalty of 6% may be charged for sales of mutual fund portions in the first year after purchase, 5% the second year, 4% the third year and so on. The purchaser does not readily perceive the cost of the broker service fees but due to the severely reduced liquidity of their mutual fund investment and monetary penalties, this cost is incurred never-the-less.
Currencies
CurrencyA currency is a unit of exchange, facilitating the transfer of goods and/or services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates, which are the prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime. In common usage, currency sometimes refers to only paper money, as in coins and currency, but this is misleading. Coins and paper money are both forms of currency.Early currencyThe origin of currency is the creation of a circulating medium of exchange based on a unit of account which quickly becomes a store of value. Currency evolved from two basic innovations: the use of counters to assure that shipments arrived with the same goods that were shipped, and later with the use of silver ingots to represent stored value in the form of grain. Both of these developments had occurred by 2000 BC. Originally money was a form of receipting grain stored in temple granaries in ancient Egypt and Mesopotamia.This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of international treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the North West to Elam and Bahrein in the South East. Although it is not known what functioned as a currency to facilitate these exchanges, it is thought that ox-hide shaped ingots of copper, produced in Cyprus may have functioned as a currency.It is thought that the increase in piracy and raiding associated with the Bronze Age collapse, possibly produced by the Peoples of the Sea, brought this trading system to an end. It was only with the recovery of Phoenician trade in the ninth and tenth centuries, that saw a return to prosperity, and the appearance of real coinage, possibly first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians.In Africa many forms of value store have been used including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, ochre and other earth oxides, and so on. The manilla rings of West Africa were one of the currencies used from the 15th century onwards to buy and sell slaves. African currency is still notable for its variety, and in many places various forms of barter still apply.
window.google_render_ad();
Modern currenciesNowadays, the International Organization for Standardization has introduced a three-letter system of codes (ISO 4217) to define currency (as opposed to simple names or currency signs), in order to remove the confusion that there are dozens of currencies called the dollar and many called the franc. Even the pound is used in nearly a dozen different countries, all, of course, with wildly differing values. In general, the three-letter code uses the ISO 3166-1 country code for the first two letters and the first letter of the name of the currency (D for dollar, for instance) as the third letter.Privately issued currenciesSeveral large companies issue points to their customers, to be redeemed for products and services produced by that company. Often, a network of companies will join to share in the offering and redemption of points. While these can hardly be considered stable currency systems, they present many of the same features as "legitimate" currency: they are a store of value, issued in discrete units; they are controlled by a central issuing authority; and they have varying rates of exchange with other forms of currency. For example, frequent flyer miles can be bought using U.S. dollars.Local currenciesIn economics, a local currency is a currency not backed by a national government, and intended to trade only in a small area. Advocates such as Jane Jacobs argue that this enables an economically depressed region to pull itself up, by giving the people living there a medium of exchange that they can use to exchange services and locally-produced goods (In a broader sense, this is the original purpose of all money.) Opponents of this concept argue that local currency creates a barrier which can interfere with economies of scale and comparative advantage, and that in some cases they can serve as a means of tax evasion.
window.google_render_ad();
Modern currenciesNowadays, the International Organization for Standardization has introduced a three-letter system of codes (ISO 4217) to define currency (as opposed to simple names or currency signs), in order to remove the confusion that there are dozens of currencies called the dollar and many called the franc. Even the pound is used in nearly a dozen different countries, all, of course, with wildly differing values. In general, the three-letter code uses the ISO 3166-1 country code for the first two letters and the first letter of the name of the currency (D for dollar, for instance) as the third letter.Privately issued currenciesSeveral large companies issue points to their customers, to be redeemed for products and services produced by that company. Often, a network of companies will join to share in the offering and redemption of points. While these can hardly be considered stable currency systems, they present many of the same features as "legitimate" currency: they are a store of value, issued in discrete units; they are controlled by a central issuing authority; and they have varying rates of exchange with other forms of currency. For example, frequent flyer miles can be bought using U.S. dollars.Local currenciesIn economics, a local currency is a currency not backed by a national government, and intended to trade only in a small area. Advocates such as Jane Jacobs argue that this enables an economically depressed region to pull itself up, by giving the people living there a medium of exchange that they can use to exchange services and locally-produced goods (In a broader sense, this is the original purpose of all money.) Opponents of this concept argue that local currency creates a barrier which can interfere with economies of scale and comparative advantage, and that in some cases they can serve as a means of tax evasion.
How can one convert physical holding into electronic holding i.e how can one dematerialise securities?
In order to dematerialise physical securities held by an investor, he has to fill in a DRF (Demat Request Form) which is available with the DP and submit the same along with physical share certificates one wishes to dematerialise. Separate DRF has to be filled for each ISIN Number. The complete process of dematerialisation is outlined below:
Surrender certificates for dematerialisation to your depository participant.
Depository participant intimates Depository (NSDL or CDSL) of the request through the system.
Depository participant submits the certificates to the registrar of the Issuer Company.
Registrar confirms the dematerialisation request from depository.
After dematerialising the certificates, Registrar updates accounts and informs depository of the completion of dematerialisation.
Depository updates its accounts and informs the depository participant.
Depository participant updates the demat account of the investor.
window.google_render_ad();
What is an ISIN? ISIN (International Securities Identification Number) is a unique identification number for a security. India follows the norms stipulates by Association of National Numbering Agency (ANNA) which is the international body for issue of ISINs. National Securities Depository Limited (NSDL) issues ISINs in India and a complete list of ISINs is available on their website: www.nsdl.co.in. Also note that ISIN of a security changes in case of certain corporate action such as split in share par value, consolidation of share capital etc. Hence you have to quote the correct ISIN at the time of giving dematerialisation request as well as at the time of transfer of shares.Do dematerialised shares have distinctive numbers? Unlike physical shares, dematerialised shares do not have any distinctive numbers. These shares are fungible, which means that all the holdings of a particular security will be identical and interchangeable
Surrender certificates for dematerialisation to your depository participant.
Depository participant intimates Depository (NSDL or CDSL) of the request through the system.
Depository participant submits the certificates to the registrar of the Issuer Company.
Registrar confirms the dematerialisation request from depository.
After dematerialising the certificates, Registrar updates accounts and informs depository of the completion of dematerialisation.
Depository updates its accounts and informs the depository participant.
Depository participant updates the demat account of the investor.
window.google_render_ad();
What is an ISIN? ISIN (International Securities Identification Number) is a unique identification number for a security. India follows the norms stipulates by Association of National Numbering Agency (ANNA) which is the international body for issue of ISINs. National Securities Depository Limited (NSDL) issues ISINs in India and a complete list of ISINs is available on their website: www.nsdl.co.in. Also note that ISIN of a security changes in case of certain corporate action such as split in share par value, consolidation of share capital etc. Hence you have to quote the correct ISIN at the time of giving dematerialisation request as well as at the time of transfer of shares.Do dematerialised shares have distinctive numbers? Unlike physical shares, dematerialised shares do not have any distinctive numbers. These shares are fungible, which means that all the holdings of a particular security will be identical and interchangeable
Mumbai Stock Exchange history
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1830's Business on corporate stocks and shares in Bank and Cotton presses started in Bombay.
1860-1865 Cotton price bubble as a result of the American Civil War
1870 - 90's Sharp increase in share prices of jute industries followed by a boom in tea stocks and coal
[edit] 1900s
1978-79 Base year of Sensex, defined to be 100.
1986 Sensex first compiled[5]using a market Capitalization-Weighted methodology for 30 component stocks representing well-established companies across key sectors.
[edit] Since 1990
1000, July 25, 1990 On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon season and excellent corporate results.
July 1991 Rupee devalued by 18-19 %[6]
2000, January 15, 1992 On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992 On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992 On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999 On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000 On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
6151, Feb 14, 2000 Tops. Index declines until Sept 2001 and loses half the value. Coincides with dot-com bubble burst.
2595, Sept 21, 2001 Bottoms.
7000, June 20, 2005 On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital, and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005 On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005 The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 6, 2006 The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006 The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006 The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006 The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006 The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
15,000, July 6, 2007 The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points.
16,000, September 19, 2007 The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points.
The Sensex finally ended with a gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732.
17,000, September 26, 2007 The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.
18,000, October 09, 2007 The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
19,000, October 15, 2007 The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670.
20,000, October 29, 2007 The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of today's rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points. The NSE Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
21,000, January 8, 2008 The sensex peaks. It crossed the 21,000 mark in intra-day trading after 49 trading sessions. This was backed by high market confidence of increased FII investment and strong corporate results for the third quarter. However, it later fell back due to profit booking.
15,200, June 13, 2008 The sensex closed below 15,200 mark, Indian market suffer with major downfall from January 21,2008
14,220, June 25, 2008 The sensex touched an intra day low of 13,731 during the early trades, then pulled back and ended up at 14,220 amidst a negative sentiment generated on the Reserve Bank of India hiking CRR by 50 bps. FII outflow continued in this week.
12,822, July 2, 2008 The sensex hit an intra day low of 12,822.70 on July 2nd, 2008. This is the lowest that it has ever been in the past year. Six months ago, on January 10th, 2008, the market had hit an all time high of 21206.70. This is a bad time for the Indian markets, although Reliance and Infosys continue to lead the way with mostly positive results. Bloomberg lists them as the top two gainers for the Sensex, closely followed by ICICI Bank and ITC Ltd.
11801.70, Oct 6, 2008 The sensex closed at 11801.70 hitting the lowest in the past 2 years.
10527, Oct 10, 2008 The Sensex today closed at 10527,800.51 points down from the previous day having seen an intraday fall of as large as 1063 points. Thus,this week turned out to be the week with largest percentage fall in the Sensex.
14284.21, May 18, 2009 After the result of 15th indian general election Sensex gained 2110.79 points form the previous close of 12173.42 these creates a new histroy in Indian Market.In the Opening Trade itself sensex gain 15% from the previous day close this leads to the suspension of 2 hours trade.After 2 hours sensex again surged this leads to the suspension of full day trading. 14200
1830's Business on corporate stocks and shares in Bank and Cotton presses started in Bombay.
1860-1865 Cotton price bubble as a result of the American Civil War
1870 - 90's Sharp increase in share prices of jute industries followed by a boom in tea stocks and coal
[edit] 1900s
1978-79 Base year of Sensex, defined to be 100.
1986 Sensex first compiled[5]using a market Capitalization-Weighted methodology for 30 component stocks representing well-established companies across key sectors.
[edit] Since 1990
1000, July 25, 1990 On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon season and excellent corporate results.
July 1991 Rupee devalued by 18-19 %[6]
2000, January 15, 1992 On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992 On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992 On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999 On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000 On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
6151, Feb 14, 2000 Tops. Index declines until Sept 2001 and loses half the value. Coincides with dot-com bubble burst.
2595, Sept 21, 2001 Bottoms.
7000, June 20, 2005 On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital, and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005 On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005 The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 6, 2006 The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006 The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006 The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006 The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006 The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
15,000, July 6, 2007 The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points.
16,000, September 19, 2007 The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points.
The Sensex finally ended with a gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732.
17,000, September 26, 2007 The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.
18,000, October 09, 2007 The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
19,000, October 15, 2007 The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670.
20,000, October 29, 2007 The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of today's rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points. The NSE Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
21,000, January 8, 2008 The sensex peaks. It crossed the 21,000 mark in intra-day trading after 49 trading sessions. This was backed by high market confidence of increased FII investment and strong corporate results for the third quarter. However, it later fell back due to profit booking.
15,200, June 13, 2008 The sensex closed below 15,200 mark, Indian market suffer with major downfall from January 21,2008
14,220, June 25, 2008 The sensex touched an intra day low of 13,731 during the early trades, then pulled back and ended up at 14,220 amidst a negative sentiment generated on the Reserve Bank of India hiking CRR by 50 bps. FII outflow continued in this week.
12,822, July 2, 2008 The sensex hit an intra day low of 12,822.70 on July 2nd, 2008. This is the lowest that it has ever been in the past year. Six months ago, on January 10th, 2008, the market had hit an all time high of 21206.70. This is a bad time for the Indian markets, although Reliance and Infosys continue to lead the way with mostly positive results. Bloomberg lists them as the top two gainers for the Sensex, closely followed by ICICI Bank and ITC Ltd.
11801.70, Oct 6, 2008 The sensex closed at 11801.70 hitting the lowest in the past 2 years.
10527, Oct 10, 2008 The Sensex today closed at 10527,800.51 points down from the previous day having seen an intraday fall of as large as 1063 points. Thus,this week turned out to be the week with largest percentage fall in the Sensex.
14284.21, May 18, 2009 After the result of 15th indian general election Sensex gained 2110.79 points form the previous close of 12173.42 these creates a new histroy in Indian Market.In the Opening Trade itself sensex gain 15% from the previous day close this leads to the suspension of 2 hours trade.After 2 hours sensex again surged this leads to the suspension of full day trading. 14200
Bombay/Mumbai Stock Exchange
Mumbaī Śheyar Bāzār
Type
Stock Exchange
Location
Mumbai, India
Coordinates
18°55′47″N 72°50′01″E / 18.929681°N 72.833589°E / 18.929681; 72.833589
Owner
Bombay/Mumbai Stock Exchange Limited
Key people
Mahesh L. Soneji (CEO)
Currency
INR
No. of listings
4,700
MarketCap
US$ 1.79 trillion (Dec 31, 2007)
Volume
US$ 980 billion (2006)
Indexes
BSE Sensex
Website
www.bseindia.com
Bombay Stock Exchange
The Bombay/Mumbai Stock Exchange Limited (Marathi/Hindi: मुंबई शेयर बाज़ार Mumbaī Śeyar Bāzār) (formerly, The Stock Exchange, Mumbai; popularly called The Bombay/Mumbai Stock Exchange, or BSE) has the greatest number of listed companies in the world, with 4700 listed as of August 2007.[1] It is located at Dalal Street, Mumbai, India. On 31 December 2007, the equity market capitalization of the companies listed on the BSE was US$ 1.79 trillion, making it the largest stock exchange in South Asia and the 12th largest in the world.[2]
Around 6,000 Indian companies list on the stock exchange,[3] and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the "BSE 30", is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.
Contents[hide]
1 Alliances
2 Hours of operation
3 Mumbai Stock Exchange history
3.1 1900s
3.2 Since 1990
4 Sensex correlation with emerging market indices
5 See also
6 References
7 External links
//
[edit] Alliances
Singapore Exchange (SGX) made a strategic investment in Bombay Stock Exchange, acquiring 5% of its shares for US$42.7 million. It is consistent with the strategy of building an Asian Gateway for securities and derivatives. BSE is also considering to take part of the capitalisation of the rising ascension of its partner, Singapore Exchange, which is becoming a leading financial hub in Asia-Pacific.
BSE also claims a strategic partnership with Deutsche Börse.
Around 6,000 Indian companies list on the stock exchange,[3] and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the "BSE 30", is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.
Contents[hide]
1 Alliances
2 Hours of operation
3 Mumbai Stock Exchange history
3.1 1900s
3.2 Since 1990
4 Sensex correlation with emerging market indices
5 See also
6 References
7 External links
//
[edit] Alliances
Singapore Exchange (SGX) made a strategic investment in Bombay Stock Exchange, acquiring 5% of its shares for US$42.7 million. It is consistent with the strategy of building an Asian Gateway for securities and derivatives. BSE is also considering to take part of the capitalisation of the rising ascension of its partner, Singapore Exchange, which is becoming a leading financial hub in Asia-Pacific.
BSE also claims a strategic partnership with Deutsche Börse.
Wednesday, May 27, 2009
World Stock Exchange Opening Extended Again
The World Stock Exchange will remain closed until 12PM PDT 27th July 2007. Our development team have almost completed the deployment phase. We look forward to opening the World’s Leading Internet Stock Market with increased security, functionality and the ability for virtual companies around the world to raise capital from the wider Internet community.
Popularity: 2% [?]
Share and Enjoy:
Like this post? Subscribe to my RSS feed and get loads more!
Possibly related posts
Second Life Stock Exchanges Updated
Second Life Stock Exchange
World Stock Exchange Opening Extended To 6AM PDT 26th July 2007
More Companies Delist From World Stock Exchange
Microsoft Withdraws Bid for Yahoo
RSS feed for comments on this post
TrackBack URI
Popularity: 2% [?]
Share and Enjoy:
Like this post? Subscribe to my RSS feed and get loads more!
Possibly related posts
Second Life Stock Exchanges Updated
Second Life Stock Exchange
World Stock Exchange Opening Extended To 6AM PDT 26th July 2007
More Companies Delist From World Stock Exchange
Microsoft Withdraws Bid for Yahoo
RSS feed for comments on this post
TrackBack URI
World Stock Exchange hit by L$3.2 million theft
SECOND LIFE, July 25 (Reuters) - The World Stock Exchange said on Wednesday a former employee used inside knowledge to steal money from the virtual stock exchange’s ATM network, a sum that totaled more than L$3.2 million (US$12,300) according to one person with knowledge of the matter.
“I noticed a large withdrawal by an avatar with no history. I then closed the WSE immediately and began to investigate,” said LukeConnell Vandeverre, CEO of the WSE and its parent company Hope Capital, in a statement on the exchange’s website.
“It appears that a past employee of Hope Capital, who assisted in fixing previous bugs in our ATM, had decided to try and use their inside knowledge of our ATM communication channel to their advantage,” said Vandeverre (real name: Luke Connell of Melbourne, Australia). “We are hoping that most of the linden dollars will be returned.”
News of the theft first came to light in a blog post by Mystik Boucher (real name: Shania Stewart of Nashville, TN), CEO of the Second Life firm Mystik Designs, whose account was suspended on Saturday.
“A few short days ago, it had come to the attention of LukeConnell that the WSE had been hacked and lost over 3.2mil/L. I come into this story, well, because it was the Chairman of Board @ MDS who has allegedly hacked the WSE,” Boucher said on her blog. “On Saturday I received an e-mail from Patsy Linden stating that my account was placed on Hold due to an Administrative Review. This is likely the cause of the transactions between myself and Thurston (Hallard).”
Hallard, the chairman of Mystik Designs, could not be reached for comment as his account has been deleted or suspended by Linden Lab. Linden Lab declined to comment.
According to a WSE document obtained by Reuters entitled “False Activity Statement,” more than L$3.2 million in fake deposits were made by Thurston Hallard and another avatar, Mindo Pinion, between June 13 and July 21, and the fraudulent funds were then withdrawn. The document said there was “strong evidence of these avatars being the same person.” Pinion’s account has also been suspended or deleted.
The WSE has been closed — “for important updates,” according to its website — since Friday. It was initially set to reopen on Tuesday but the opening time has been extended to 12PM PDT on Wednesday.
In the most recent 24 hours of trading, 444,487 shares worth a total of L$689,298.93 changed hands on the exchange — just over half the value of the alleged theft.
As of Wednesday Boucher’s account had been reactivated.
“I now have more faith in Linden Labs than ever,” she said on her blog. “I was always optimistic about the outcome of this situation, and my account has now been taken off Hold and I’m back in business.”
Subscribe to:
Posts (Atom)