NYSE Acquiring Stake in India's National Stock Exchange
The NYSE has announced plans to invest $115 million to acquire a 5% interest in India's National Stock Exchange. See the Dow Jones news blurb here. Other "pedigreed foreign institutions" (the NSE's term) that are investing capital in exchange for 5% stakes are Goldman Sachs, General Atlantic and Softbank Asia's Infrastructure Fund.
The NSE has been around since 1992 and was created after being recommended from a study of new capital markets. The NSE ranks third in the world in the number of equity market trades, number one in equity futures and fourth globally in index futures.
With its English legal system, India has advantages over other developing markets in the corporate governance arena. But it has not developed a reputation for strong enforcement. For those interested in reading about India's corporate governance landscape in more detail, see this paper by Rejesh Chakrabarti or the IFC's report here.
Perhaps as groups like the NYSE and Goldman Sachs take ownership stakes in the NSE, we will see further convergence in corporate governance practices and over time India will develop a capital market that is marked by strong enforcement practices.
posted by Allison Garrett at Faulkner University at 6:06 AM
7 Comments:
Hi Friends
Please try to recall we claimed that Sensex will touch 15000 mark very soon, We believe that we were the first one to make this claim. Now just see we .
The story doesn’t end here only.
Now we are making you beware that now trade with due care. As Nifty and Sensex will see correction now.
We are making this statement but still we request you don’t start shorting right now, and no need for panic at all. We are just making you aware that you need to take precautions.
Apart from this We would like to highlight few facts also regarding SENSEX journey to 15000 mark.
BIGGEST GAINERS
COMPANY % CHANGE
L&T 61.7
BHARTI AIRTEL 35.6
RIL 33.7
TATA STEEL 26.4
BHEL 20.4
RAGING BULLS
MILESTONES DAYS
4000-5000 2551
5000-6000 125
6000-7000 1965
7000-8000 80
8000-9000 81
9000-10000 70
10000-11000 43
11000-12000 30
12000-13000 193
13000-14000 37
14000-51000 213
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Now with time USA is coming out of the jinx of sub prime and recession and we have already witnessed some good movement in US market too. Recent fall in Indian stock market was due to Overbought Nifty, USA recession margin pressure and panic.
Now Nifty is in consolidation phase. Once consolidation is over we will see major rally in the stock market.
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As we all know major stock market exchanges in India are
BSE
and NSE. Full form of BSE is Bombay stock exchange covering SENSEX
where as
NSE is
National stock exchange covering Nifty and Nifty stocks.
Now a days USA is facing recession which is affecting world market and
recently we have witnessed major fall in Nifty and Sensex.
In this fall many investors were trapped and loosed around 50% to 70%
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Right now Nifty is direction less
Major suport-4660 below it next will be 4400.If breached then 4000.
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Dear Visitors,
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As we all know
Indian
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Few weeks back everyone was saying that there will be Bear market for next few years and now again everyone is showing interest and markets are rising again. However, I still feel that credit crisis and recession in US will still affect the World economies and investors must stay cautious.
Emerging Markets like Indian Share Market may still do good in the long term but there will be lots of choppy sessions.
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