BSE Debuts on National Stock Exchange

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Asia’s oldest stock exchange Bombay Stock Exchange  listed on rival National Stock Exchange.

The shares of BSE, the country’s first stock exchange to go public, closed at Rs1,070.55 apiece on the National Stock Exchange (NSE)—32.8% higher than the issue price of Rs806 per share—making it the first bumper listing of 2017.

The shares opened at Rs1,085 and hit a high and low of Rs1,200 and Rs1,065.10, respectively.

The Bombay Stock Exchange (BSE) is an Indian stock exchange located at Dalal Street, Kala Ghoda, Mumbai (formerly Bombay), Maharashtra, India.

Established in 1875, the BSE is Asia’s first stock exchange. It claims to be the world’s fastest stock exchange, with a median trade speed of 6 microseconds.

The BSE is the world’s 11th largest stock exchange with an overall market capitalization of $1.43 Trillion.

More than 5500 companies are publicly listed on the BSE.

Unlike countries like the United States where 70% of the GDP is derived from larger companies and the corporate sector, the corporate sector in India accounts for only 12-14% of the national GDP. Of these, there are only 7,800 listed companies of which only 4000 trade on the stock exchanges at BSE and NSE. Hence the stocks trading at the BSE and NSE account for only about 4% of the Indian economy.

Deepak Mohoni, a well-known technical analyst, is believed to have coined the word Sensex in 1989 to name BSE’s benchmark index. The name stands for sensitive index, which comprises 30 largest and most actively traded stocks on BSE.

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