Stock Exchange Current Affairs

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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Udai Kumar appointed as full-time MD and CEO of MSEI

Udai Kumar has been appointed as full-time Managing Director (MD) and Chief Executive Officer (CEO) of Metropolitan Stock Exchange of India (MSEI) Ltd.

His appointment was approved by SEBI (Securities and Exchange Board of India) and comes after stringent shortlisting process and interviews by the Selection Committee.

Prior to this appointment, he was given an interim charge after then MD and CEO Saurabh Sarkar had resigned.

Udai Kumar is a veteran of the capital and financial markets. He has over two decades of rich experience in stock exchange administration, fund-raising, capital markets, restructuring and merger and acquisition functions.

About Metropolitan Stock Exchange of India (MSEI) Ltd

  • MSEI formerly known as MCX Stock Exchange Ltd. (MCX-SX), is India’s youngest and one of the three stock exchanges recognized by SEBI. It was founded in 2008.
  • It offers an electronic, transparent and hi-tech platform for trading in Capital Market, Currency Derivatives, Futures & Options, Interest Rate Futures (IRF) and Debt Market segments.

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