BSE to cut ties with S&P Dow Jones Indices LLC; develop own in-house indices

Asia’s oldest bourse BSE has decided to snap ties with S&P Dow Jones, which manages and operates benchmark Sensex. Now it is planning to develop indices through its own in-house development team.

Key Facts

The two entities had announced joint venture called Asia Index in 2013 to provide array of indices enabling global and domestic investors to participate in South Asia’s vibrant economies. The deal with BSE came after expiry of licensing arrangement between India Index Services & Products (IISL), a joint venture of NSE and S&P-owned Crisil. BSE will not renew its agreement with S&P Dow Jones Indices LLC which expires on December 31, 2018 and it is looking to develop indices through its own team. The agreement was not renewed because as joint venture was not able expand reach and usage of the indexes in the foreign jurisdiction.

Background

S&P Dow Jones Indices LLC is  subsidiary of The McGraw-Hill Companies and it is world’s largest global resource for index-based concepts, data and research. BSE is Asia’s oldest stock exchange and is home to iconic Sensex index – a leading indicator of Indian equity market performance. The equity indices of National Stock Exchange (NSE), BSE’s rival are managed and operated by NSE’s subsidiary company NSE Indices.

Month: Categories: India Current Affairs 2018

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Lakshya Sen wins bronze medal in men’s singles at World Junior Badminton Championship

India’s top junior shuttler Lakshya Sen (17) won bronze medal at Li Ning BWF World Junior Badminton Championships 2018 held at Markham, Canada. In singles semi-final match, he lost to top seed and world junior number one Kunlavut Vitidsarn of Thailand by 22-20, 16-21, 13-21 score. This was Sen’s first medal from this prestigious tournament in three attempts

India’s Performance BWF World Junior Badminton Championships

This was overall India’s fifth boys singles bronze medal at BWF World Junior Championships and only medal India got at this year’s Championships. Previously, RMV Gurusaidutt (2008), B Sai Praneeth (2010), HS Prannoy (2010) and Sameer Verma (2011) have won bronze medal. Siril Verma (2015) is India’s only boys singles silver-medallist at World Junior Championships. Saina Nehwal (2008) is only India’s sole gold medallist at BWF World Junior Championships. She also has won silver in 2006 in girls singles.

Month: Categories: India Current Affairs 2018

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