Shares of SBI Mutual Fund – SBI-ETF Nifty Bank (NSE:SETFNIFBK) last traded at 273.75, representing a move of -0.51%, or -1.4 per share, on volume of 352,150 shares. After opening the trading day at 285, shares of SBI Mutual Fund – SBI-ETF Nifty Bank traded in a close range. SBI Mutual Fund – SBI-ETF Nifty Bank currently has a total float of shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 172.65 and high of 285.
Indian Economy’s 2 Giants
The Indian stock market is one of the fastest growing equity markets in the world today. While it currently makes up only 12% to 14% of the country’s gross domestic product (GDP)’ far from the 70% corporate sector making up the entire GDP of the US, India’s corporate sector is rampantly thriving to become one of Asia’s leaders.
As of this month, nearly 8,000 companies are listed on the Indian equity market. More than half of these are listed on the two main stock exchanges in India combined’ the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), representing about 4% of the country’s GDP.
Regular session on both the BSE and the MSE starts at 9:15 a.m. and concludes at 3:30 p.m.
The BSE, having been established in 1875, is the first stock exchange in Asia. It is also the first to acquire a permanent recognition under India’s Securities Contract Regulation Act of 1956.
Presently, the BSE is the 11th biggest stock exchange in the world with a total market capitalization of $1.70 trillion as of January 23, 2015. Moreover, it is also considered as one of the fastest stock exchanges in the world with a speed of six microseconds.
The BSE first touched its four-digit figure on July 25, 1990; the 5,000 mark on October 11, 1999; the 10,000 mark on February 6, 2006; the 20,000 mark on December 11, 2007; and the 30,000 mark on March 4, 2015, an event that was driven by the efforts of the Reserve Bank of India. SBI Mutual Fund – SBI-ETF Nifty Bank is a stock traded on the Indian stock exchange.
The biggest declines on the BSE happened during the onslaught of the 2008 Global Financial Crisis and when the Chinese central bank had suddenly moved to devalue the yuan. On January 21 and 22, 2008, the BSE has lost more than 2,000 points while on August 24, 2015, it has dropped over 1,700 points.
The SENSEX 30 is the free-float index that measures the 30 most active stocks on the BSE. It weighs stocks based on liquidity, market capitalization, floating-stock-adjustment depth, and other factors.
The NSE was founded in 1992 as the 1st demutualized electronic stock exchange in the country. Presently, it supports about 230,000 terminals throughout India. The NSE is owned and operated by the Indian Index Services and Products (IISP).
The NIFTY is the index that measures the 50 most active stocks across 24 industries on the NSE. Consequently, it covers a broader portion of India’s corporate sector than the SENSEX 30. SBI Mutual Fund – SBI-ETF Nifty Bank has relatively good liquidity.
The NIFTY has a base value of 1,000 and its base date is 1995. Like the SENSEX 30, it comprehensively weighs stocks based on liquidity, market capitalization, among others.
Investing in BSE and NSE stocks is strongly recommended for investors today. As the Indian economy continues to grow and become one of Asia’s biggest, it only makes sense to start betting on its equity market as early as now. Professional analysts might be interested how this will affect SBI Mutual Fund – SBI-ETF Nifty Bank.
SBI Mutual Fund – SBI-ETF Nifty Bank is an exchange traded fund launched by State Bank of India. The company has market cap of INR. The fund is managed by SBI Funds Management Private Limited. It currently has negative earnings. It invests in the public equity markets of India.
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