Banking stocks push Sensex to above 38,000
16, Mar 2019
Prelims level : Banking Mains level : GS - III
Strong global cues and foreign flows led to the benchmark equity indices register gains The rally, led by banking stocks, pushed the Sensex above the 38,000-mark for the first time since last September.
- The Sensex was launched by “Bombay Stock Exchange” (BSE) on January 1, 1986 is one of India’s major stock market indexes.
- It evaluates the fluctuations in stock prices of 30 companies
- These 30 companies are big companies in terms of market value, turnover, profit etc.
- If the Sensex is rising, then it shows that the stock price of most companies of BSE is increasing and if the Sensex decreases, then it show that the share price of most of BSE companies is decreasing.
- The base year of the Sensex is 1978-79 and the base index value was set at 100.
- Bombay stock exchange and the national stock exchange probably the two renowned stock exchanges in the country.
- BSE is among the eight biggest stock exchanges in the world regarding transaction volume.
- The exchange has a nationwide reach with a presence in the 417 cities and towns in India.
- The systems and process of the exchange are designed to safeguard market integrity and enhance transparency in operations.
- The NIFTY 50 index is National Stock Exchange of India’s benchmark broad based stock market index for the Indian equity market.
- Full form of NIFTY is National Stock Exchange Fifty .
- It represents the weighted average of 50 Indian company stocks in 12 sectors and is one of the two main stock indices used in India, the other being the BSE Sensex..
- Nifty is owned and managed by India Index Services and Products (IISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited.
- IISL had a marketing and licensing agreement with Standard & Poor’s for co-branding equity indices until 2013.
- The Nifty 50 was launched 1st April 1996, and is one of the many stock indices of Nifty.