NSE Symbol: UCOBANK | BSE Code: 532505
The BSE or the Bombay Stock Exchange is Asia's oldest and first stock exchange. It is located in Mumbai, erstwhile Bombay, and it was formally established in 1875. An influential stockbroker and a businessman, Premchand Roychand, along with a handful of acquaintances, started the BSE journey in 1855. The BSE had its meetings under Banyan trees in its initial days. The group grew and eventually moved to a permanent place in 1874. BSEâ€™s office is very appropriately named â€˜Dalal Streetâ€™ which translated to Broker Street in Hindi. BSE operated as a floor trading exchange for a long time before ascending the digital ladder in 1995. They implemented an automated trading platform which had a capacity of 8 million per day. BSE went global in 2012, by joining the United Nations Sustainable Stock Exchange as a partner. Subsequently, in 2016, BSE established the first international exchange of India, called INX.
With an aim to induce transparency to the Indian capital market, the Indian Government implored a group of leading financial institutions for an effective solution. Accordingly, these financial institutions, along with the Government's support, established the first demutualized electronic exchange of India in 1992, known as the NSE. Since its inception, the NSE functioned on a totally automated screen-based digital trading system, which offered a great platform to connect the investor base of the entire country and offer them an easy trading facility. NSE was India's first electronic exchange and currently offers services pertaining to several segments, such as equity derivatives, clearing and settlement services in equity, trading, debt and currency derivatives, etc.
The NIFTY is National Stock Exchange of India's benchmark broad-based stock market index for the country's equity market. It lists 50 selected Indian companies across 12 sectors that own the largest and most liquid Indian securities. Hence, it is popularly called NIFTY 50. The Nifty index represents the weighted average of the stock value of those 50 companies. The India Index Services and Products or IISL, a company which is focused on an index as a core product, owns and manages the Nifty. Through one efficient portfolio, the Nifty exposes investment managers to the current status of the Indian market and helps in determining promising investment opportunities.
Similar to NSE's Nifty 50, BSE also has a stock market index known as Sensex. The word comes from the words 'Sensitive' and 'Index,' and is basically a portmanteau of the two. BSE 30 and S&P BSE SENSEX are two other names of this index. Sensex constitutes the top 30 financially flourishing and well-established companies from the ones listed on BSE. These companies typically represent diverse industrial sectors of the country's economy to ensure a holistic calculation. Usually, these are the companies that have the largest and most actively traded stocks. SENSEX is broadly reported through both print and electronic media in national as well as international markets. The scientifically designed indexing system is based on globally accepted construction and review methodologies. It is being calculated on the basis of a free-float market capitalization methodology since September 2003.