Bombay Stock Exchange

Dive into India's economics and right into the Bombay Stock Exchange (BSE). If you've ever considered investing abroad, this might be worth checking into. India has the fifth largest economy in the world, the third largest Gross Domestic Product (GDP), and is in the running with China to have the world's largest population. The Bombay Stock Exchange is India's largest and the oldest stock exchange in Asia. It was established in 1875 and remains one of the most important markets today. The BSE was originally opened in Bombay with the help of well known businessman of the time, Premchand Roychand, founder of the Bank of Bombay. The BSE was the first stock exchange in India to be recognized by the Government under the Securities Regulation Act of 1956. The exchange currently trades well over 6000 and leads the pack with the majority of the trading amongst India's other 23 stock exchanges. Per the Center for Monitoring Indian Economy the Bombay Stock Exchange Sensex has more than quadrupled in the last ten years and continues to steadily climb the charts. The BSE is open to foreign investors upon the guidelines of the Securities and Exchange Board of India and registration with the Reserve Bank of India. The Investor Protector Fund is also in place to help ward against default members. The Bombay Stock Exchange Sensex runs from 1979 forward and has gained wide acceptance with its' ability to tap into market trends and movements. The Sensex is updated every 15 seconds during market hours and has a base value of 100. The BSE Sensex tracks a sample of 30 stocks based on the Free Float Methodology, the same methodology used for the Dow Jones. The quantitative criteria that the selection of stocks for the Sensex are based on include market capitalization, liquidity, continuity, industry representation, and listed history. The BSE boasts many other indexes such as the BSE Informational Technology index and the BSE Capital Goods index. Other popular indexes on the exchange are BSE100,BSE200, BSE500, BSE MIDCAP, BSE SMLCAP, BSE AUTO, BANKEX, BSE CD (Consumer Durables), BSE METAL, BSE Oil, among others. The stock exchange is governed by a Chief Executive Officer, currently Mr. Rajnikant Patel, along with nine elected officials. The Bombay Stock Exchange was originally located in Bombay, now Mumbai, in the state of Maharashtra. The BSE can be found on Dalal Street, the financial area of Mumbai. The BSE observes the following holidays: Bakri-Id, Republic Day, Good Friday, Ambedkar Jayanti, Independence Day, Ganesh Chaturthi, Dasera, Diwali (Laxmi Poojan), Diwali (Bhaubeej), and Guru Nanak Jayanti. India is wide open for growth and expansion in all business classes and makes this market something to keep your eye on for the future.

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