Bombay Stock Exchange (BSE) Current Affairs

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Sensex and Nifty at new Record Highs

The 30-share BSE Sensex has reached an all-time intra-day high of 30,567 breaching its previous intra-day high of 30,366.43 touched on May 11. The technology, power, FMCG, IT, consumer durables and healthcare that leads the BSE sectoral indices had made gains up to 0.66 %.

The National Stock Exchange index Nifty did not disappoint either by gaining 0.39% to reach a new high of 9,507.40 surpassing its previous intra-day high of 9,450.65 reached  on May 11.

The good performance of the indices were due to upbeat sentiments backed by robust foreign fund inflows and encouraging earnings by some blue-chip companies, besides the overnight gains in Europe and the US markets.

Stock Market Index

A share market Index shows how a specified portfolio of share prices is moving in order to give an indication of market trends. It is a basket of securities and the average price movement of the basket of securities indicates the index movement, whether upwards or downwards. BSE Sensex is one index. The BSE SENSEX is a free-float market capitalization-weighted stock market index of 30 well-established and financially sound companies listed on Bombay Stock Exchange.

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Benchmark Indices Closes at all time High

The 30-share BSE Sensex reached its record close of 30,248. The index has surpassed its previous record closing of 30,133.35 reached on April 26. It also surpassed its intra-day peak of 30,184.22 recorded on April 27 to hit a fresh intra-day high of 30,271.60.

The NSE index Nifty has breached the 9,400-mark for the first time. The NSE index registered a record high of 9,415, surpassing its previous milestone of 9,377 reached on May 5.

The indices have settled at their respective closing highs after the IMD’s new monsoon forecast has predicted that India is likely to receive higher monsoon rainfall as the concern over the El Nino weather condition has eased. Earlier, IMD had predicted that this year’s monsoon rains will be at 96% of the 50-year average of 89 cm. The new forecast has raised the sentiments of the stock market as the prospects of higher agricultural and economic growth is brighter. This has resulted in the shares of consumer goods and agriculture-dependent companies to rise.

Stock Market Index

A share market Index shows how a specified portfolio of share prices is moving in order to give an indication of market trends. It is a basket of securities and the average price movement of the basket of securities indicates the index movement, whether upwards or downwards. BSE Sensex is one index. The BSE SENSEX is a free-float market capitalization-weighted stock market index of 30 well-established and financially sound companies listed on Bombay Stock Exchange.

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Balasubramaniam Venkataramani appointed as MD & CEO of Multi Commodity Exchange (MCX)

Balasubramaniam Venkataramani has been appointed as new MD & CEO of Multi Commodity Exchange (MCX). He will replace then MD & CEO Manoj Vaish.

Prior to this appointment B Venkataramani was Chief Business Officer of Bombay Stock Exchange (BSE).

The top post at MCX was lying vacant since May 2014, after then MD & CEO Manoj Vaish had resigned. Till the vacant time, Joint Managing Director of MCX P K Singhal was looking after the day-to-day operations of the exchange.

About Multi Commodity Exchange (MCX)

  • The MCX is country’s first listed commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management.
  • It began functioning in November 2003 and operates within the regulatory framework of the Forward Contracts Regulation Act, 1952 (FCRA, 1952).
  • MCX offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities (mentha oil, cardamom, potatoes, palm oil and others).
  • Globally, MCX ranks no. 1 in silver, no. 2 in natural gas, no. 3 in crude oil and gold in futures trading.

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