National Stock Exchange of India (NSE)

The National Stock Exchange (NSE) is a stock exchange located at Mumbai, India. It is the 16th largest stock exchange in the world by market capitalization and largest in India by daily turnover and number of trades, for both equities and derivative trading

About the National Stock Exchange of India : In the fast growing Indian financial market, there are 23 stock exchanges trading securities. The National Stock Exchange of India (NSE) situated in Mumbai - is the largest and most advanced exchange with 1016 companies listed and 726 trading members. The NSE is owned by the group of leading financial institutions such as Indian Bank or Life Insurance Corporation of India. However, in the totally de-mutualised Exchange, the ownership as well as the management does not have a right to trade on the Exchange. Only qualified traders can be involved in the securities trading. The NSE is one of the few exchanges in the world trading all types of securities on a single platform, which is divided into three segments: Wholesale Debt Market (WDM), Capital Market (CM), and Futures & Options (F&O) Market. Each segment has experienced a significant growth throughout a few years of their launch. While the WDM segment has accumulated the annual growth of over 36% since its opening in 1994, the CM segment has increased by even 61% during the same period. The National Stock Exchange of India has stringent requirements and criteria for the companies listed on the Exchange. Minimum capital requirements, project appraisal, and company's track record are just a few of the criteria. In addition, listed companies pay variable listing fees based on their corporate capital size. The National Stock Exchange of India Ltd. provides its clients with a single, fully electronic trading platform that is operated through a VSAT network. Unlike most world exchanges, the NSE uses the satellite communication system that connects traders from 345 Indian cities. The advanced technologies enable up to 6 million trades to be operated daily on the NSE trading platform. History of the National Stock Exchange of India : Capital market reforms in India and the launch of the Securities and Exchange Board of India (SEBI) accelerated the incorporation of the second Indian stock exchange called the National Stock Exchange (NSE) in 1992. After a few years of operations, the NSE has become the largest stock exchange in India. Three segments of the NSE trading platform were established one after another. The Wholesale Debt Market (WDM) commenced operations in June 1994 and the Capital Market (CM) segment

was opened at the end of 1994. Finally, the Futures and Options segment began operating in 2000. Today the NSE takes the 14th position in the top 40 futures exchanges in the world. In 1996, the National Stock Exchange of India launched S&P CNX Nifty and CNX Junior Indices that make up 100 most liquid stocks in India. CNX Nifty is a diversified index of 50 stocks from 25 different economy sectors. The Indices are owned and managed by India Index Services and Products Ltd (IISL) that has a consulting and licensing agreement with Standard & Poor's. In 1998, the National Stock Exchange of India launched its web-site and was the first exchange in India that started trading stock on the Internet in 2000. The NSE has also proved its leadership in the Indian financial market by gaining many awards such as 'Best IT Usage Award' by Computer Society in India (in 1996 and 1997) and CHIP Web Award by CHIP magazine (1999).

Indices
NSE also set up as index services firm known as India Index Services & Products Limited (IISL) and has launched several stock indices, including:

S&P CNX Nifty(Standard & Poor's CRISIL NSE Index) CNX Nifty Junior CNX 100 (= S&P CNX Nifty + CNX Nifty Junior) S&P CNX 500 (= CNX 100 + 400 major players across 72 industries) CNX Midcap (introduced on 18 July 2005 replacing CNX Midcap 200)

Changes in NSE

ensure that any time cap on payment of weekly income benefits and medical expenses (apart from the Commonwealth retirement age) not apply to severely injured workers. abolish journey claims except in relation to Police Officers. abolish the entitlement of dependents of deceased or injured workers to make nervous shock claims ensure that in cases of total incapacity, workers receive 95 per cent of their pre-injury average weekly earnings for the first 13 weeks of total incapacity, and then 80 per cent from week 14 onwards. ensure that in cases of partial incapacity, workers receive 95 per cent of their pre-injury average weekly earnings for the first 13 weeks of total incapacity and then 80 per cent from week 14 onwards (in each case less certain amounts). impose a time cap on weekly income benefits of no less than five years for less seriously injured workers, with a more generous time cap for an intermediate category of injured worker and ultimately no time cap (except the Commonwealth retirement age) for the most seriously injured workers. ensure that the absolute end date for the payment of all weekly benefits be the

Commonwealth retirement age. cap reasonable and necessary medical and related treatment expenses to those incurred whilst weekly benefits are paid and for one year after the cessation of those payments. require mandatory, independent, binding work capacity testing at defined intervals. incorporate payments under section 67 [of the Workers Compensation Act 1987] for pain and suffering into section 66 for lump sum payments for injuries. ensure that after the determination of a claim for whole person impairment, only up to two further claims be permitted and in each case only if there has been a deterioration of whole person impairment of at least 5 per cent since the last determination. amend the definition of injury in section 4 of the Workers Compensation Act 1987 so that a disease is only included if the employment was the main contributing factor to the contraction, aggravation, acceleration, exacerbation or deterioration of the disease. remove the entitlement of the estate of a worker to receive a death benefit where the worker had no dependants. increase the thresholds for permanent impairment lump sums under section 66 of the Act on the basis that saving be redistributed in the form of higher permanent impairment lump sums for those with at least 10 per cent .

BSE
BSE Limited formerly known as Bombay Stock Exchange (BSE) (Bombay hare Bzar) is a stock exchange located on Dalal Street, Mumbai and is the oldest stock exchange in Asia. The equity market capitalization of the companies listed on the BSE was US$1 trillion as of December 2011, making it the 6th largest stock exchange in Asia and the 14th largest in the world.[1] The BSE has the largest number of listed companies in the world.[2] As of March 2012, there are over 5,133 listed Indian companies and over 8,196 scrips on the stock exchange,[3] the Bombay Stock Exchange has a significant trading volume. The BSE SENSEX, also called "BSE 30", is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for the majority of

the equity trading in India. While both have similar total market capitalization (about USD 1.6 trillion), share volume in NSE is typically two times that of BSE.

History
The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when four Gujarati and one Parsi stockbroker would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as 'The Native Share & Stock Brokers Association'. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the BSE SENSEX in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system in 1995. It took the exchange only fifty days to make this transition. This automated, screen-based trading platform called BSE On-line trading (BOLT) currently has a capacity of 8 million orders per day. The BSE has also introduced the world's first centralized exchange-based internet trading system, BSEWEBx.co.in to enable investors anywhere in the world to trade on the BSE platform The BSE is currently housed in Phiroze Jeejeebhoy Towers at Dalal Street, Fort area.

Key changes
Our commitment to being at the forefront of the current and evolving practice of business has led to programs that reflect the realities of the marketplace. The backing and experience of BSE has helped us provide insights into the unique functions of this world. It has given us the edge of being at the hub of regulatory changes, the vast knowledge base, the wealth of experience of 136 years, formulating the most aligned curriculum. Our international programs have helped us in making the focus of our program 'glocal', providing a vast base to the learners. Case studies replicate actual business situations and are taught so that students must work together to make difficult decisions under typical management conditions, including a lack of complete information, complex tradeoff situations and time pressure. Our faculty is from the industry along with being academicians; hence they are able to put real time case studies on the plate for the students.

We can proudly say that the case studies discussed in the sessions are 'real-time'. For more than two decades, the BSE Institute Ltd. faculty have drawn on their passion for teaching, their experience in working with organizations worldwide, and the insights gained from their experience to educate professionals who have shaped the practice of business in financial markets not only in India but also many other countries around the world. Our course design and development is firmly grounded in knowledge of business processes - in entrepreneurial companies and established firms unconstrained by the boundaries of academic disciplines. Our institute can also proudly boast of the 'simulation lab' where the students can learn trading on 'real-time' basis.

COMMODITY INDEXES(MCDX)
Headquartered in Mumbai, Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. The demutualised Exchange has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. Having started operations in November 2003, today, MCX holds a market share of over 85%* (as on March 31, 2012 MCX had a market share of 86%) of the Indian commodity futures market. The Exchange has more than 2,170 registered members operating through over 3,46,000 including CTCL trading terminals spread over 1,577 cities and towns across India. MCX was the third largest^ commodity futures exchange in the world, in terms of the number of contracts traded in CY2011 MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, and a number of agri-commodities on its platform. The Exchange introduces standardised commodity futures contracts on its platform. These contracts in futures exchanges provide an anonymous trading environment for ideal price discovery. The Exchange is the world's largest exchange# in Silver and Gold, second largest# in Natural Gas and the third largest# in Crude Oil with respect to the number of futures contracts traded. MCX has been certified to three ISO standards including ISO 9001:2008 Quality Management System

standard, ISO 14001:2004 Environmental Management System standard and ISO/IEC 27001:2005 Information Security Management System standard. The Exchanges platform enables anonymous trades, leading to efficient price discovery. Moreover, for globally-traded commodities, MCXs platform enables domestic participants to trade in Indian currency. The Exchange strives to be at the forefront of developments in the commodities futures industry. MCX was the first exchange in India to initiate evening sessions to synchronise with the trading hours of global exchanges in London, New York and other major international markets. It was the first exchange in India to offer futures trading in steel, crude oil, and almond. In June 2005, MCX launched MCXCOMDEX, Indias first real time composite commodity futures index, which provides our members with valuable information regarding market movements in the key commodities, as determined by physical market size in India, which are actively traded on our Exchange. We have introduced several other indices, including MCXAgri (agricultural commodities index), MCXEnergy (energy commodities index) and MCXMetal (metal commodities index). We also have three rain indices, namely RAINDEXMUM (Mumbai), RAINDEXIDR (Indore), and RAINDEXJAI (Jaipur) which track the progress of monsoon rains in their respective geographic locations. In December 2009, we launched EFP transactions for the first time in India, which enables parties with futures positions to swap their positions in the physical markets and vice versa. MCX has forged strategic alliances with various national and international trade bodies / associations / organisations, which we believe enables us to grow our business and expand our market presence. Among international alliances, we have formed strategic alliances with a number of exchanges such as the London Metal Exchange, the New York Mercantile Exchange, the LIFFE Administration and Management (under renewal), the Baltic Exchange Limited, Shanghai Futures Exchange and Taiwan Futures Exchange. Vision: We envision a unified Indian commodity market that is driven by market forces and continually provides a level playfield for all stakeholders ranging from the primary producer to the end-consumer; corrects historical aberrations in the system; leverages technology to achieve exceptional efficiencies and ultimately lead to a common world market. We also envision a brand image for MCX that identifies it as the Exchange of Choice not only by direct participants in the commodity ecosystem but also by the general public. Mission: MCX shall accomplish the above vision by relentlessly endeavouring to enhance awareness and understanding of exchange-enabled trade in commodity derivatives. The Exchange will continue to minimise the adverse effects of price volatilities; providing commodity ecosystem participants with neutral, secure and transparent trade mechanisms; formulating quality parameters and trade regulations in conjunction with the regulatory authority. Moreover, it will continue to enforce a zerotolerance policy toward unethical trade practices-attempted or real-by any participant/s; and invest in the all-round development of the commodity ecosystem.

NIFTY -JUNIOR \BEES

Goldman Sachs Nifty Junior Bees

Exchange Traded Funds: An easier way to invest! Exchange traded funds are easy to manage products that can be perceived for long term as well as short term investment. For the better understanding of ETF, financial advisor Anil Rego provides a detailed knowledge on the ETF along with its tax working.

Sizzling Stocks: Multi Commodity Exchange of India and Essar Oil

the shares of Multi Commodity Exchange of India surged as much as 5 per cent intraday as the Cabinet approved the Forward Contract Regulation Act (Amendment) Bill the previous day. The stock's 7 per cent rally in the last two sessions has helped it recover its initial loss and finish the week with a gain of 4.2 per cent. There has been an increase in volume over past two sessions.

LEADING INDICATOR AFFECTING US ECONOMY

Central banks such as the Federal Reserve in the United States pay close attention to leading economic indicators, as they decide what to do with interest rates and other tools of monetary policy. For these reasons, leading economic indicators are important to investors on Wall Street and around the world. Leading investment houses and banks watch the indicators, hoping they will provide some signal about the state of the economy and where it is headed.

Types
Some of the leading economic indicators include the Gross Domestic Product (GDP), measures of inflation, unemployment rates, retail sales index, consumer confidence index, and the Conference Board index of leading indicators

Gross Domestic Product GDP is the broadest single measure of the overall state of the economy. In the U.S., the federal Bureau of Economic Analysis reports GDP on a quarterly basis, with each measure reflecting the previous quarter. The most significant figure is the growth rate. In general, GDP in the U.S. grows at an annual rate of around 3 percent. A higher growth rate may signal inflation and lead to higher interest rates from the Fed, while a lower rate may signal a slowdown in the economy, which could raise unemployment and reduce consumer spending.

Inflation Measures
Two measures of inflation are the Consumer Price Index (CPI) and Producer Price Index (PPI). The U.S. Bureau of Labor Statistics releases both indexes monthly. The CPI is the most important inflation indicator and measures the change in price of a bundle of consumer goods and services. It also is important to consider the CPI core rate, which gives a better reading of true inflation by excluding the volatile food and energy sectors. The Producer Price Index (PPI) helps gauge inflation by measuring the price of wholesale goods. These include raw materials, intermediate goods used to produce other products and finished goods. Higher wholesale prices raise production costs, resulting in higher retail prices.
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Unemployment Indicators
The Bureau of Labor Statistics releases a monthly unemployment report that includes the unemployment rate, the number of new jobs created, average hours worked per week and the average hourly wage.

Consumer Measures
Leading indicators of consumer activity include the Retail Sales Index and the Consumer Confidence Index. The Retail Sales Index, released monthly by the U.S. Census Bureau, measures retail sales by studying a sample of U.S. retail stores. The Consumer Confidence Index, released monthly by the Conference Board, a nongovernmental organization, surveys a sample of consumers about their feelings regarding the state of the economy. Many analysts think high consumer confidence can lead to an economic recovery, even when other data suggest a sluggish economy.

Conference Board Index

The Conference Board releases its Index of Leading Indicators every month. The index consists of 10 measures: average work week in manufacturing, average number of applications for unemployment, manufacturers' orders for consumer goods, manufacturers' orders for capital goods, speed of delivery of goods from suppliers, housing permits, the Standard and Poor's 500 Stock Index, the inflation-adjusted money supply, consumer expectations and the spread between short- and long-term interest rates.

GDP Price Deflator

BEA (Bureau of Economic Analysis); Last day of the quarter, 8:30am EST, covers previous quarter data The GDP deflator shows how much a change in the base year's GDP relies upon changes in the price level. Also known as the "GDP implicit price deflator." Because it isn't based on a fixed basket of goods and services, the GDP deflator has an advantage over the consumer price index (CPI). Changes in consumption patterns or the introduction of new goods and services are automatically reflected in the deflator. This data is a medium importance indicator for markets.

PPI - Producer Price Index; Core-PPI

Bureau of Labor and Statistics; The second full week of each month, 8:30am EST, covers previous month data The PPI is not as widely used as the CPI, but it is still considered to be a good indicator of inflation. This indicator reflects the change of manufacturers cost of input (raw materials; semi-finished goods; etc.). Formerly known as the "Wholesale Price Index", the PPI is a basket of various indexes covering a wide range of areas affecting domestic producers. Each month approximately 100,000 prices are collected from 30,000 production and manufacturing firms. It is not as strong as the CPI in detecting inflation, but because it includes goods being produced it is often a forecast of future CPI releases.
CCI - Consumer Confidence Index [High]

The Conference Board; Last Tuesday of each month, 10:00am EST, covers current month's data The CCI is a survey based on a sample of 5,000 U.S. households and is considered one of the most accurate indicators of confidence. The idea behind consumer confidence is that when the economy warrants more jobs, increased wages, and lower interest rates, it increases our confidence and spending power. The respondents answer questions about their income, the market condition as they see it, and the chances to see increase in their income. Confidence is looked at closely by the Federal Reserve when determining interest rates. It is considered to be a big market mover as private consumption is two thirds of the American economy.