NSE Symbol: SALSTEEL | BSE Code: 532604
The Bombay Stock Exchange, more popular as BSE, is the first and oldest stock exchange in Asia. Premchand Roychand, an influential stockbroker and businessman, ventured into this ambitious journey in 1855 with around 20 associates. They organized meetings at several outdoor locations before finally finding a permanent place in Mumbaiâ€™s Dalal Street. BSE was thus formally established in 1875. The exchange chiefly facilitated floor trading for a century before adopting an automated digital platform in 1995. The company has grown enormously ever since and has joined the United Nations Sustainable Stock Exchange as a partner exchange in 2012. BSE has also opened India's first international exchange, known as INX, in 2016.
NSE was mainly a Government of India initiative that aspired to bring transparency to the Indian capital market. A group of leading Indian financial institutions, upon the government's instruction, joined their resources to set up the exchange. Established in 1992, NSE was the first demutualized electronic exchange of India. It was the first exchange in India that operated on an entirely automated, digital screen-based electronic trading system. The platform offered an easy trading facility and connected the investor base of the entire country. NSE has immensely expanded ever since and currently extends its services to various segments, such as equity derivatives, trading, debt and currency derivatives, clearing and settlement services in equity, etc.
Launched on 1st April 1996, the NIFTY is NSE's flagship index that helps investment managers in tracking the behavior of a portfolio of certain companies. The list includes 50 companies from 12 different sectors out of the 1600 companies registered under the NSE. These are the 50 blue-chip companies owning the largest and most liquid Indian securities. Therefore, it is popularly referred to as the Nifty 50 and the index symbolizes the weighted average of the stock value of these 50 companies. The Nifty exposes investors to the Indian market through one efficient portfolio. The IISL or India Index Services and Products is a specialized company that focuses on an index as a core product and it owns as well as manages the Nifty.
Just like NSE's Nifty 50, BSE's stock market index is called Sensex. The word 'Sensex' is a combination of the words 'Sensitive' and 'Index.' It is also known by the names of BSE 30 and S&P BSE SENSEX. It comprises of 30 well-established and financially thriving companies among the ones listed on BSE. These 30 companies represent diverse industrial sectors of the Indian economy and have the largest as well as most actively traded stocks. SENSEX is extensively reported in national and international markets, through both print and electronic media. It has a scientifically designed indexing system which is based on internationally accepted construction and review methodologies. Since September 2003, a free-float market capitalization methodology is applied to calculate Sensex.