NSE Symbol: CUMMINSIND | BSE Code: 500480
The Bombay Stock Exchange, popularly called BSE, is Asia's first and oldest stock exchange. Located at Dalal Street in Mumbai, the BSE was formally established in 1875 by an influential stockbroker and businessman called Premchand Roychand. In the initial days, the BSE had its meetings under several Banyan trees in Mumbai before finding a permanent place, which is very appropriately named Dalal Street or Broker Street. After functioning as a floor trading exchange for more than a century, BSE ascended the digital ladder in 1995 by implementing a new screen-based automated trading platform with a capacity of 8 million orders in a day. In 2012, the BSE went global by becoming a Partner Exchange of the United Nations Sustainable Stock Exchange. Subsequently, BSE established India's first international exchange, called INX, in 2016.
NSE was set up in 1992 by a group of leading Indian financial institutions, following the Indian Government's directives. It aimed to bring transparency to the Indian capital market. It was India's first demutualized electronic exchange which operated on a completely automated screen-based electronic trading system, offering an easy trading facility to all Indian investors. NSE began its operations in the Wholesale Debt Market segment in 1994. NSE was the first company in India to offer a digital platform that connected the investor base of the entire country. NSE offers services in various segments, such as trading, equity derivatives, clearing and settlement services in equity, debt and currency derivatives, etc.
The NIFTY is NSE's flagship index that tracks the behavior of a portfolio of blue-chip companies that have the largest and most liquid Indian securities. It is owned as well as managed by IISL (India Index Services and Products Ltd), which is India's first specialized company to focus on an index as a core product. Nifty indexes 50 of the 1600 companies on the National Stock Exchange (NSE) and is thus popularly referred to as 'Nifty 50'. It captures approximately 65% of its float-adjusted market capitalization and is a true reflection of the Indian stock market. The Nifty 50 includes the major sectors of the Indian economy. It offers the exposure to the Indian market in one efficient portfolio. The Nifty index has been trading since April 1996. It is ideally suited for index funds, benchmarking and index-based derivatives.
Sensex is BSE's stock market index. It consists of 30 well-established and financially flourishing companies listed on BSE. It was established in 1986. These 30 component companies are known for being the largest and most actively traded stocks. They represent various industrial sectors of the Indian economy. Sensex is also known as BSE 30 and S&P BSE SENSEX. The word 'Sensex' is a portmanteau of the words 'Sensitive' and 'Index.' SENSEX is widely reported in domestic and international markets through print and electronic media. The indexing system is scientifically designed, based on globally accepted construction and review methodology. Since September 2003, S&P BSE Sensex is being determined on a free-float market capitalization methodology.