Post Budget Analysis of Sensex.
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Post Budget Analysis of Sensex.
Sensex 17,600.12 +1.81% (2nd May 2008)
For the premier Stock Exchange that pioneered the stock broking
activity in India, 128 years of experience seems to be a proud
milestone. A lot has changed since 1875 when 318 persons became
members of what today is called "The Stock Exchange, Mumbai" by paying
a princely amount of Re1.
Since then, the country's capital markets have passed through both
good and bad periods. The journey in the 20th century has not been an
easy one. Till the decade of eighties, there was no scale to measure
the ups and downs in the Indian stock market. The Stock Exchange,
Mumbai (BSE) in 1986 came out with a stock index that subsequently
became the barometer of the Indian stock market.
SENSEX is not only scientifically designed but also based on globally
accepted construction and review methodology. First compiled in 1986,
SENSEX is a basket of 30 constituent stocks representing a sample of
large, liquid and representative companies. The base year of SENSEX is
1978-79 and the base value is 100. The index is widely reported in
both domestic and international markets through print as well as
electronic media.
The Index was initially calculated based on the "Full Market
Capitalization" methodology but was shifted to the free-float
methodology with effect from September 1, 2003. The "Free-float Market
Capitalization" methodology of index construction is regarded as an
industry best practice globally. All major index providers like MSCI,
FTSE, STOXX, S&P and Dow Jones use the Free-float methodology.
Due to is wide acceptance amongst the Indian investors; SENSEX is
regarded to be the pulse of the Indian stock market. As the oldest
index in the country, it provides the time series data over a fairly
long period of time (From 1979 onwards). Small wonder, the SENSEX has
over the years become one of the most prominent brands in the country.
The growth of equity markets in India has been phenomenal in the
decade gone by. Right from early nineties the stock market witnessed
heightened activity in terms of various bull and bear runs. The SENSEX
captured all these events in the most judicial manner. One can
identify the booms and busts of the Indian stock market through
SENSEX.
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