BSE signs MoU with Osaka Securities Exchange

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These are litle older updates for Bombay Stock exchange, but since related to my blog I am posting it The complete original text can be read here.

In April 2011, Bombay Stock Exchange Ltd. (BSE) today signed a memorandum of understanding (MOU) with the Osaka Securities Exchange Co, Ltd. (OSE) to create a cooperative relationship for the development of financial markets in India and Japan. As part of the MOU, both exchanges will seek to develop opportunities which include cross-licensing of indices and other potential areas of co-operation.

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Top companies increase m-capitalization

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Top 10 largest indian companies by m-capitalizaion increased their market value by over 10000 crores when combined together. Stock prices of indian IT major Infosys topped the list wit market cap touching 193365 crores up by 4500 crores as it's stock price closed at 3300 levels.

Bharti Airtel was at second biggest gainer and added Rs 1,879.77 crore to its m-cap which reached at Rs 1,32,343.57 crore.

India's largest private bank ICICI Bank's market-captilization is also up by Rs 1,697.38 crore to Rs 1,28,525.13 crore, ITC also added Rs 1,462.79 crore. Market captilization of IT major TCS added just 58.71 crore to it's m-cap. NTPC added Rs 206.14 crore thus showing some selective buying by investors.

The 30 component benchmark index SENSEX gained mere 1.05 percent this week closing at 20073.66.

Stock prices of Anil Ambani led ADAG group Reliance Infra and Reliance Cap lost over 20 per cent each. state owned companies are worst hit with market cap shrinking tremendous low levels, CIL diminished by Rs 5,337.32 crore. State Bank of India valuation declined to Rs 1,74,933.4 crore.

Top 5 updates from BSE for today

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This post is for top 5 news which came from Bombay Stock Exchange today.

1. Hero Honda skids over 5% on JV termination news
2. Banking Stocks down by over 3 percent today.
3. Patni computer ltd gains 5% on news about promoters stake sale
4. RBI credit policy makes Indian Stock markets nervous
5. Indian oil shares rally on petrol price rise, Oil & Gas stocks up

BSE to suspend trading of 12 companies for non compliance

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The management of the Bombay Stock exchange has decided to suspend stock trading for following 12 companies namely,Vishal Exports, Ambalal Sarabhai, Bafna Spinning Mills, CMM Broadcasting Network, Computech Intl, Enso Secutrack, Indage Restaurants, Indo-Pacific Software, Invicta Meditek, Linkhouse Industries, NetVision Web Tech and Orind Exports, have failed to comply with various provisions of the Listing Agreement up to quarter ended June, 2010,

Top 5 updates from BSE for today

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Following are the top updates from Bombay Stock Exchange for today after markets closed almost flat.

-Hero Honda stock slips 5% on JV split details
-JSW Steel issues shares on preferential basis to Japan's JFE
-Murli Industries continues to fall, tumbles 9.5 per cent on BSE
-ONGC, Kazakh oil field agreement delayed
-Suzlon to asborb 2 fully owned units
-State Bank hikes deposit rates by up to 150 bps

Indian Stock Markets closed for holiday

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All the stock exchange''s Bombay Stock Exchange, National Stock Exchange and other regional exchanges as well as commodity exchanges remainde closed due to public holiday today.

For complete list of public holidays of BSE click here

Indian Stock Market top news for today

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Indian Stock indices are following a downward trend today as both Bombay Stock Exchange's SENSEX and National Stock Exchange's NIFTY is trading down.

Following are top news from Stock markets today:

1. SAIL shares down as results disappoint.
2. MSK Projects down on Sept quarter.
3. Atlas Copco shares rise over 8 pc on delisting plan.
4. ONGC Sept revenues are much lower than the expected.
5. Stock price of Tata Global Beverages down as consol lowers.
6. Elgi Equipments stock price up 8 percent.

BSE's - International Programme on Securities Market Operations

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Following are Latest news from Bombay Stock Exchange's website and also are the forthcoming events calendar as put up on the website, I thought of putting it here so that you dont miss even a single update about Bombay stock Exchange while on my blog.
HAPPY TRADING!!

1. BSE is going to start a new program titled 'International Programme on Securities Market Operations' in october 2010, The exact dates for the event are 25 - 29 October 2010 , The program would be conducted by BSE training institute(BTI), which is training division of the oldest Asian stock Exchange, BSE Training Institute has already provided such training\programs in past.
The main objective of this program will be to train market professionals in the mid to senior levels working in the securities markets that provides a unique experience of learning various aspects of the policy and practice.
It would cover all the major aspects of stock markets and would be a five day affair.
You can download Registration Form.
For reading full content Click here

BSE to launch Derivatives exchange with EUREX on October 4 2010

Asia's oldest stock exchange Bombay stock exchange is all set to launch an international Derivatives Exchange along with Eurex (Deutsche Borse & Swiss Exchange).

The derivatives products, which will have the BSE's benchmark index also called the Sensex as the underlying, will commence trading on the Eurex from October 4 this year, the BSE said in a statement.

The new contracts will be denominated in U.S. dollars and settled in cash, it said.

The Indian benchmark tracks the daily performance of 30 of the largest and most actively traded companies listed on the exchange.

Wholesale debt Market's turnover touches 568 crores

Top securities (non-repo) that traded at the WDM were the 7.27 per cent government security maturing in 2013, which traded at Rs 125.00 crore at a weighted yield of 6.70 per cent, the 7.80 per cent government security maturing in 2020, which traded at 55.00 crore at a weighted yield of 7.59 per cent and the 8.20 per cent government security maturing in 2022, which traded at Rs 40.00 crore at a weighted yield of 7.98 per cent.

This week, the weighted yields on government securities with a maturing period of 0-3 years, 3-7 years, 7-10 years and more than 10 years were quoted at 5.59 per cent, 7.18 per cent, 7.61 per cent and 7.98 per cent, respectively.

The weighted yields on treasury bills maturing within 90 days were 5.33 per cent, 91-182 days at 5.18 per cent and 183-365 days at 5.30 per cent.

The traded value of government securities, treasury bills and state government securities was Rs 6,435.39 crore and that of non-government securities was Rs 3,595.69 crore, representing 64.15 per cent and 35.85 per cent of the total traded value

BSE's International Programme on Securities Market Operations

Date Of Programme: 16th to 20th November 2009

OBJECTIVES

A five-day programme for market professionals in the middle to senior levels working in the securities markets that provides a unique platform for learning various aspects of policy and practice. The programme is primarily meant for international audience and consists of a right mix of class room lectures/presentations, practical /simulation exercises/demonstrations, interface with leading professionals and practitioners and visits to major financial institutions in Mumbai.


PROGRAMME CONTENTS
1. Stock Exchange Products: Equity / Stock Markets, Basket Trading, Derivatives, Debt Markets- Retail and Wholesale, Interest Rate Futures, Exchange Traded Funds, Mutual Funds (Close- Ended).

2. Primary Markets: Contents of Prospectus-Red Herring, IPO Process, Fixed Price Method, BookBuilding Process.

3. Indices: Indexing Concept, Global and Indian Indexing Scenario, Active v/s Passive Debate, Index-Based Products.

4. Stock Market Functioning: Brokers, Sub-Brokers & Remisiers, Trade Transaction Flow, Listing Procedure, Categories of Scrips: Large, Medium & Small.

5. Trading Mechanism: Membership Requirement, Trading Clearing & Settlement Procedure- Rolling Settlement, Pay-in, Pay-out Schedule, Contract Note Specifications, Auction Mechanism, Demo of the Trading Screen, Emerging Issues: Margin Trading and Borrowing and Lending of Securities.

6. Risk Management System: Capital Adequacy Requirements, Intra-day Trading Limits, Gross Exposure Limit, Margining Procedure.

7. Dematerialisation of Shares and Depositories: Introduction to the Concept, Beneficial & Registered Owners, Role of Depositories, Dematerialisation Procedure, Benefits.

8. Surveillance: Objective of Surveillance, Procedures involved in Position Monitoring of Brokers, Price Monitoring & Investigations Procedures, Scrip-Wise Circuit Filters, Market- Wide Circuit Breakers, Money Laundering

9. Derivatives Markets: Introduction to Futures & Options , Market Terminologies, Pay-off Structure, Basic Trading Strategies, Weekly Options.

10. Trading Mechanism in Derivatives Markets: Membership Requirements, Trading, Clearing and Settlement Procedure, Risk Management, Margining Mechanism Demonstration of the Trading Screen, Accounting and Taxation.

11. Debt Markets: Debt Products traded in Stock Exchanges, Wholesale Debt Markets, Retail Debt Markets, Trading Mechanism in Debt Markets (Wholesale/Retail Debt Markets) Membership Requirements, Trading Mechanism, Risk Management.

12. Commodity Market & Trading Corporate Actions: Bonus, Rights, Dividends, Buy Backs etc., Regulations to be followed by the Corporates, Impact on the Shareholders.

13. FII Investments: Rules, Regulations and Bylaws on Investment in Primary Markets and Secondary Markets.

14. Investing with Masters: Life & Times of Worlds Legendary Investors.

TIMING

09.30 am to 05.30 pm

VENUE

Bombay Stock Exchange Ltd.,
19th Floor, BSE Training Institute,
Mumbai – 400001
India
COURSE FEES

US$ 2800
(Includes accommodation on single room occupancy in a reputed hotel, airport pick up & drop facility, local transport, study material, tuition fees, refreshments & lunch, study visits and site seeing)

Discounts: 10% for two registrations and more.

Registration: Use enclosed format with payment details.

Last Date for Registration: 26 October 2009

KEY CONTACTS

Vispi Rusi Bhathena

Piyush Shelat

Roy Aranha

or you can also mail or call at below numbers:

E-mail: training@bseindia.com
Phone: 0091 22 - 2272 8175/ 8197/ 8303
Fax: 0091 22 - 2272 3250

source - bseindia.com

Bombay Stock Exchange launches BSE IPO index

BSE announces the launch of a new BSE IPO index that will track the value of companies for two years after listing subsequent to successful completion of their initial public offering (IPO).

Robust growth of the Indian economy at 6.7% in 2008-09, and the expectation of higher growth in the future are expected to boost the primary market. For this and other reasons, it is an appropriate time to introduce to the market an indicator that will track primary market conditions in the Indian capital market.

BSE continues to introduce index innovations with the launch of the IPO index, by introducing ceiling (capping) on weightings of index constituents. Market capitalisation weightings of index constituents will be limited to 20%. If a constituent’s market capitalization would result in a higher weighting, the company’s weight will be suitably adjusted to ensure that no single company has a weight in excess of 20% in the index. However, between any rebalancing, weightage of any index constituent can exceed 20%.

Summary of guidelines followed for BSE IPO index are as follows:

1. A company seeking listing on the Exchange after completion of IPO shall be considered eligible for inclusion in the index. Follow-on public issues shall not be considered for inclusion in the index.
2. A scrip must have the minimum free-float market capitalisation of Rs. 100 crores on its first day of listing
3. A scrip will be included in the index on the third day of its listing (T+2) subject to fulfillment of the minimum free-float market capitalisation criteria stated above.
4. A scrip will be excluded from the index on the second Monday of the month after completion of two years of listing.
5. At all time a minimum of 10 scrips shall be maintained in the index. In case, there are less than 10 companies on account of possible exclusion after two years, the exclusion of such company shall be delayed till such time new inclusion is made in the index.
6. The maximum weight of any scrip shall be capped at 20%. The constituent weightage shall be reviewed at the time of inclusion/ exclusion of a scrip and on monthly rebalancing. However, between any rebalancing, weightage of any index constituent can exceed 20%
7. Base date of the index is May 3, 2004; while base index value is set to 1000 points. Index value on August 21, 2009 is 1901.67.
8. The index would be calculated and disseminated on a real-time basis through BOLT effective August 24, 2009 and shall also be available on our website.
9. The list of index constituent is attached as a separate annexure.

source - bseindia

SENSEX rises 400 pts | NIFTY up 122 pts as recession ease

Also Read - Why New York is loosing "World Financial Capital" Tag

Bombay Stock Exchange's SENSEX index gained over 400 pts today as investors become bullish about recovering economic recession, NSE's NIFTY also closed up 122 pts as similar bullish sentiments were prevelant through out the trading sessions through out the day, Detailed and sector wise performace of the day of both SENSEX ans NIFTY is as follows :

Nifty ended at 4521.55, up 122.65 points or 2.79 per cent. The broader index touched a high of 4532.40 and low of 4405.95.

Sensex closed at 15237.94, up 394.82 points or 2.66 per cent. The index touched an intra-day high of 15264.84 and low of 14997.75.

BSE Midcap Index gained 2.38 per cent and BSE Smallcap Index moved 2.95 per cent higher.

Sectoral performance of BSE was as follow:

BSE Realty Index jumped 5.61 per cent higher, BSE Metal Index gained 4.34 per cent and BSE FMCG Index moved up 4.09 per cent.

Biggest gainers that propelled the 30-share Sensex were DLF (7.76%), Reliance Infrastructure (6.76%), Maruti Suzuki (6.63%), Hindalco Industries (6.2%) and ACC (5.96%).

Technical snag hits BSE during trading - 2/7/09

There was a technical glitch on the BSE for 3-4 hours that led to circuit filters being removed. This saw a surge in some mid cap and small cap stocks on huge volumes. But the error was rectified during market hours.

Shares of Assam Company ended at Rs 15.37 after moving between a high of Rs 16.25 and low of Rs 14.81. The stock has an upper circuit of Rs 15.31 and lower circuit of Rs 13.19. But according to dealers, the stock price shot up to Rs 77.20 at 3.06 pm with the volume at 1,38,35,059 shares. However, the closing figures on the BSE website do not show the price or volume.

The stocks which saw such movement on the BSE were: EMCO ended at Rs 83.75 with the intra day high/low of Rs.88.30/81.45, while the circuit limits were Rs. 85.50/77.40. Ahaluwalia Co ended at Rs.91.20 with intraday high/low of Rs.102.80/87.25 while the circuit limit was Rs.91.20/82.60. Ackruti ended at Rs.515.55 with intra day high/low of Rs.545.00/505.00 whereas the circuit limits were Rs.534.90/484.00.

Although traders repose faith in BSE’s administrative and regulatory capabilities, today’s trade has cast doubts.

courtesy economictimes

BSE - Election-To fill in the vacancy of a Trading Member Director

The Trading Members of Bombay Stock Exchange Limited (the Exchange) are hereby informed that a vacancy shall arise at the ensuing Fourth Annual General Meeting of the Exchange to be held on Friday the 7th August, 2009 due to completion of two consecutive terms pursuant to Article 13.18A of the Articles of Association by one of the Trading Member holding office as a Director in the Trading Member Director category at the said meeting.

The Board of Directors of the Exchange has decided to fill in the said vacancy in the Trading Member Director category under the provisions of Rules, Bye-laws and Regulations and Articles of Association of the Exchange.

Accordingly, nominations are invited from the eligible Trading Members of the Exchange pursuant to Article 13.16.2 of the Articles of Association to fill in ONE vacancy in the Trading Member Director category, at the Fourth Annual General Meeting of the Exchange.

The timetable for filling in the vacancy as per the provisions of the Articles of Association (Article 13.16.3 & 13.22), Rules, Bye-laws and Regulations (Rule 100-104) is as under.

Sr.No. Nature of activity Date
1 Issue of nomination forms. 24.06.2009
2 Last date for submission of duly filled in nomination forms. 23.07.2009
3 Last date for withdrawal of nomination forms. 28.07.2009
4 Election of Trading Member Director by Shareholders. At the Fourth Annual General Meeting to be held on Friday the 7th August, 2009.

Blank nomination forms can be downloaded from the Exchange’s website www.bseindia.com or collected in person and duly filled in nomination forms may be submitted in person at the following address between 11 a.m. to 4 p.m. on all the working days.

Secretarial Department,
Bombay Stock Exchange Limited,
25th Floor, P.J. Towers,
Dalal Street, Fort, Mumbai 400 001.

Trading Members are advised to note the following terms and conditions of election:

The manner of election, appointment, tenure, resignation, vacation etc. of trading member directors shall be governed by Companies Act, 1956 save as otherwise specifically provided under or in accordance with the Securities Contracts (Regulation) Act, 1956, The BSE (Corporatisation and Demutualisation) Scheme, 2005 and the Circulars issued by SEBI from time to time specifying the Governance of the Exchange.
The conditions of eligibility and the method of appointment of Trading Member Directors shall be governed by the Articles of Association, Rules, Bye-laws and Regulations and SEBI’s letter dated 31st August, 2005 prescribing the manner of appointment of Directors and other incidental and consequential matters related to the governance of the Exchange.
Since the election if required by ballot, shall be conducted under the provisions of the Companies Act, 1956, Rules 96 to 112 given under the Chapter “Election of the Governing Board and Office Bearers” framed prior to Corporatisation of the Exchange to suit its requirement as an “Association of Persons” as per its constitution and objects, shall apply only to the extent it is not contrary to the provisions of the Companies Act, 1956, Articles of Association of the Exchange and SEBI directives on the governance of the Exchange issued from time to time.
Trading Members are advised to carefully examine the provisions of the Companies Act, 1956, Articles of Association, and Rules, Bye-Laws and Regulations of the Exchange, the provisions of The BSE (Corporatisation and Demutualisation) Scheme, 2005 and directives in respect of governance of the Exchange issued by SEBI from time to time before submission of the duly filled in nomination forms.
The contents of the nomination forms and the annexures/undertakings attached thereto shall form an integral part of the nomination form. Incomplete application forms would be liable for rejection.

BSE to halt trading in derivatives of seven firms

The companies are Dr Reddy's Laboratories, Ambuja Cements, Ashok Leyland, Tata Chemicals, Indian Oil Corporation, Canara Bank and Petronet LNG Ltd, the BSE said in a circular.

"Derivatives contracts for the far month, ie., September 2009 and onwards would not be introduced upon expiry of June 2009 contracts ie on June 25, 2009," the circular said.

Existing contract months - July and August - would, however, continue to trade till they expire on the last Thursday of their respective expiry months, it added.

SEBI asks cos to declare dividend on a per share basis

(25/4/2009 - Indian Market Updates)  - SEBI on Friday reduced the timelines for the notice period by listed companies for all corporate actions like dividend and bonus, to name

a few. The notice period for the record date has been brought down to seven working days while that for board meetings has been reduced to two working days. It has also introduced a uniform procedure for companies in dealing with unclaimed shares. The new clause relates to those shares that could not be allotted to the rightful shareholder due to insufficient information.

Also read -
-BSE aims at internationalization of listing businessNEW !!
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“It has been brought to the notice of the board that there is a large quantum of shares issued pursuant to the public issues, which remain unclaimed despite the best efforts of the registrar to issue or issuers, and that there is no uniform practice for dealing with such shares,” the release said.

The unclaimed shares will be credited to a demat suspense account opened by the issuer with one of the depository participants and any corporate benefit, such as dividend, bonus shares, will also be credited to such account. The allottee’s account will be credited as when he/she approaches the issuer, after undertaking the proper verification of identity. The voting rights of these shares will remain frozen till the rightful owner claims the shares. The details of the shares in the suspense account will be disclosed in the annual report.

Also read -
-BSE aims at internationalization of listing businessNEW !!
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In order to bring about uniformity in the manner of declaring dividend among listed companies, Sebi has made it mandatory for companies to declare their dividend on a per share basis only. This means that irrespective of the face value of the share, the company will have to mention the dividend on an absolute basis.

posted under - SEBI, SEBI news, indian markets news, bse news, nse news and views, Security exchange board of india, SEBI
source - www.economictimes.com

BSE News - BSE aims at internationalization of listing businesses

(April 23/2009 - BSE News) - BSE(Bombay Stock Exchange) with a cooperation agreement with Deutsche B&oumlrse aims at internationalization of listing businesses of both Exchanges, thereby benefiting all the participants including exchanges, issuers and investors.

This cooperation combines the expertise and brand recognition of each partner exchange with the opportunities of gaining global reach and attention. Therefore we offer worldwide visibility and investors' awareness by joint marketing initiatives and a common online portal to promote listings and data disseminations. Above that there is an option on cross listings opportunities.

-BSE aims at internationalization of listing businessNEW !!
-Effect of Recession on Indian Economy
-Economies hit by recession
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

Indian issuers can meet the European investor base on various occasions like the German Equity Forum or international road shows with globally operating investors hosted by Deutsche B&oumlrse.

for details on Deutsche B&oumlrse and listing on Deutsche B - CLICK HERE

posted under - BSE News,BSE updates, Bombay stock exchange, BSE live, BSE stocks, BSE rates

BSE and NASDAQ OMX war takes legal turn

A bitter battle seems to be brewing between Asia’s oldest equity bourse and one of the world’s largest exchange technology providers. While it is already known that an agreement signed between the Bombay Stock Exchange (BSE) and OMX — now known as Nasdaq OMX — in January 2008 has gone sour, an arbitration process is being explored now. ET has learnt that BSE has already sent a legal notice to OMX.

According to people familiar with the development, BSE has sent a legal notice to OMX recently, asking for a compensation of around $137 million by way of lost business opportunity. It has also charged the technology provider with not honouring its commitments.

Also Read :
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It is believed that both parties, accompanied by their legal advisors, met in Mumbai about two weeks ago, but couldn’t reach any settlement. “The board has taken a call to get out of the contract with OMX as they have not kept their commitments,” said a BSE board member.

In January 2008, BSE and OMX signed an agreement, under which OMX was to provide trading and clearing systems to strengthen BSE’s derivatives and securities trading capabilities. The new platform would also have allowed BSE to clear a wider range of products, as well as offer a new set of clearing services to its members. Further, the first phase of the system rollout was scheduled for launch by mid-2008.

Also Read :
-G20 summit updates 2009NEW!!
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

However, the deal was called off later that year. BSE had already paid $5 million as the first tranche to OMX for the contract valued at $37.5 mn. OMX, incidentally, is a technology supplier to more than 70 exchanges globally.
In an emailed reply, the BSE spokesperson said: “The agreement has been terminated and as per the provision of the agreement, there is an arbitration mechanism, which is being explored.”

OMX, on the other hand, refused to comment. “Our policy is to not give detailed comments about our customers. Therefore, we will unfortunately not be able to provide you with any comment,” it said via email. Interestingly, people familiar with the development also say there is a likelihood of OMX filing a counter-suit against BSE in London.

posted under - BSE news, BSE stocks updates, BSE v/s nasdaq, BSE nasdaq OMX battle, BSE latest updates, bse and nasdaq news, Nasdaq news and updates, BSE news and updates
source - www.economictimes.com