O M B A y T o C K X C H A N G e

F N ON IO TI AT ZA IZ LI AL UA TU UT MU EM DE OD TO ET EE RE TR NT AN YA NY AN BA MB OM RO FR
Ghalla Bhansali Stock Brokers Pvt. Ltd.

Mahesh Babaria
maheshb@ghallabhansali.com
Gold
BO OM MB BA AY Y ST TO OC CK K EX XC CH HA AN NG GE E
20th March, 2009
Mittal Dharod
mittald@ghallabhansali.com
Bombay Stock Exchange (BSE) An informal group of 22 stockbrokers had been trading under a banyan tree opposite the Town Hall of Bombay from mid-1850s. This banyan tree still stands in Horniman Circle Park, Mumbai. This informal group of stockbrokers organized themselves as The Native Share and Stockbrokers Association which, in 1875, was formally organized as the Bombay Stock Exchange (BSE). BSE is the oldest stock exchange in Asia, the second being the Tokyo Stock Exchange, established in 1878.Premchand Roychand was a leading stockbroker of that time, and he assisted in setting out traditions, conventions, and procedures for the trading of stocks at Bombay Stock Exchange and they are still being followed. BSE is the first stock exchange in the country which obtained permanent recognition (in 1956) from the Government of India under the Securities Contracts (Regulation) Act 1956. BSEs pivotal and pre-eminent role in the development of the Indian capital market is widely recognized. It migrated from the open outcry system to an online screen-based order driven trading system in 1995. Earlier an Association Of Persons (AOP), BSE is now a corporatised and demutualised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). With demutualisation, BSE has two of worlds best exchanges, Deutsche Brse and Singapore Exchange, as its strategic partners. Over the past 133 years, BSE has facilitated the growth of the Indian corporate sector by providing it with an efficient access to resources. There is perhaps no major corporate in India which has not sourced BSEs services in raising resources from the capital market.
www.ghallabhansali.com
20th March, 2009
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The BSE Index, SENSEX, is Indias first stock market index that enjoys an iconic stature , and is tracked worldwide. It is an index of 30 stocks representing 12 major sectors. The SENSEX is constructed on a free-float methodology, and is sensitive to market sentiments and market realities. Apart from the SENSEX, BSE offers 21 indices, including 12 sectoral indices. BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It has a nation-wide reach with a presence in more than 450 cities and towns of India. BSE has always been at par with the international standards. The systems and processes are designed to safeguard market integrity and enhance transparency in operations. BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certification. It is also the first exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-line Trading System (BOLT).
Statistics It is located at Dalal Street, Mumbai, India. On February 2009, the equity market capitalization of the companies listed on the BSE was US$ 559.81 million, making it the largest stock exchange in South Asia and the 14th largest in the world. The Bombay Stock Exchange has the greatest number of listed companies in the world, with 4924 listed as of February 2009. The Bombay Stock Exchange was established in 1875. Around 7,784 Indian companies list on the stock exchange, and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the 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 most of the trading in shares in India.
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Sr. No. 1 2 3 4 5 6 7 8 9 10
*As on February 2009
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Listed Cos 4,924 3,827 3,586 3,230 3,052 2,960 2,385 2,003 1,794 1,403
Exchange Bombay SE TSX Group BME Spanish Exchanges NYSE Group London SE Nasdaq Tokyo SE Australian SE Korea Exchange National Stock Exchange India
Domestic Market Capitalization

(USD millions) (Market value excludes investment funds) Sr. No. Exchange January 1 2 3 4 5 6 7 8 9 10 14 NYSE Group Tokyo SE Nasdaq Euronext Shanghai SE London SE Hong Kong Exchanges TSX Group Deutsche Brse BME Spanish Exchanges Bombay SE 9,363,074.0 2,922,616.3 2,203,759.6 1,862,930.9 1,557,161.3 1,758,157.7 1,237,999.5 997,997.4 937,452.9 871,061.4 613,187.6 2009 February 8,701,004.5 2,563,422.3 2,048,350.4 1,676,512.6 1,631,985.1 1,607,724.9 1,197,166.6 916,717.5 817,582.3 786,828.8 559,810.9 % Change Feb. 08 (in USD) -40.3% -38.4% -41.1% -55.8% -48.6% -53.9% -48.8% -53.8% -56.8% -53.3% -62.0% % Change Feb. 08 (in local cur.) -40.3% -42.1% -41.1% -47.2% -50.6% -35.7% -49.0% -40.2% -48.4% -44.2% -51.4%
Hours of operation Beginning of the Day Session.... Login Session.... Trading Session.... Position Transfer Session.... Closing Session.... Option Exercise Session.... Margin Session.... Query Session.... End of Day Session.... 8:00 - 9:00 9:00 - 9:30 9:55 - 15:30 15:30 - 15:50 15:50 - 16:05 16:05 - 16:35 16:35 - 16:50 16:50 - 17:35 17:35
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20th March, 2009
BSEs normal trading sessions are on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.
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Bombay Stock Exchange history 1830s Business on corporate stocks and shares in Bank and Cotton presses started in Bombay. 1860-1865 Cotton price bubble as a result of the American Civil War. 1870 - 90s Sharp increase in share prices of jute industries followed by a boom in tea stocks and coal. 1978-79 Base year of Sensex, defined to be 100. 1986 Sensex first compiled using a market Capitalization-Weighted methodology for 30 component stocks representing well-established companies across key sectors. 1000, July 25, 1990 On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon season and excellent corporate results. July 1991 Rupee devalued by 18-19 % 2000, January 15, 1992 On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh. 3000, February 29, 1992 On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh. 4000, March 30, 1992 On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
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5000, October 8, 1999 On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election. 6000, February 11, 2000 On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006. 6151, Feb 14, 2000 Tops. Index declines until Sept 2001 and loses half the value. Coincides with dot-com bubble burst. 2595, Sept 21, 2001 Bottoms. 7000, June 20, 2005 On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital, and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time. 8000, September 8, 2005 On September 8, 2005, the Bombay Stock Exchanges benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading. 9000, November 28, 2005 The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors. 10,000, February 6, 2006 The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006 The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during midsession at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points. 12,000, April 20, 2006 The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
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13,000, October 30, 2006 The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000. 14,000, December 5, 2006 The Sensex on December 5, 2006 crossed the 14,000mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark. 15,000, July 6, 2007 The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points. 16,000, September 19, 2007 The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchanges sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points.
The Sensex finally ended with a gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732. 17,000, September 26, 2007 The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the days high. The Sensex ended with a gain of 22 points at 16,921. 18,000, October 09, 2007 The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
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19,000, October 15, 2007 The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670. 20,000, October 29, 2007 The Sensex crossed the 20,000 mark on the back of aggressive buying by funds ahead of the US Federal Reserve meeting. The index took only 10 trading days to gain 1,000 points after the index crossed the 19,000-mark on October 15. The major drivers of todays rally were index heavyweights Larsen and Toubro, Reliance Industries, ICICI Bank, HDFC Bank and SBI among others. The 30-share index spurted in the last five minutes of trade to fly-past the crucial level and scaled a new intra-day peak at 20,024.87 points before ending at its fresh closing high of 19,977.67, a gain of 734.50 points. The NSE Nifty rose to a record high 5,922.50 points before ending at 5,905.90, showing a hefty gain of 203.60 points.
21,000, January 8, 2008 The sensex peaks. It crossed the 21,000 mark in intraday trading after 49 trading sessions. This was backed by high market confidence of increased FII investment and strong corporate results for the third quarter. However, it later fell back due to profit booking. 15,200, June 13, 2008 The sensex closed below 15,200 mark, Indian market suffer with major downfall from January 21,2008 14,220, June 25, 2008 The sensex touched an intra day low of 13,731 during the early trades, then pulled back and ended up at 14,220 amidst a negative sentiment generated on the Reserve Bank of India hiking CRR by 50 bps. FII outflow continued in this week.
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12,822, July 2, 2008 The sensex hit an intra day low of 12,822.70 on July 2nd, 2008. This is the lowest that it has ever been in the past year. Six months ago, on January 10th, 2008, the market had hit an all time high of 21206.70. This is a bad time for the Indian markets, although Reliance and Infosys continue to lead the way with mostly positive results. Bloomberg lists them as the top two gainers for the Sensex, closely followed by ICICI Bank and ITC Ltd. 11801.70, Oct 6, 2008 The sensex closed at 11801.70 hitting the lowest in the past 2 years. 10527, Oct 10, 2008 The Sensex closed at 10527,800.51 points down from the previous day having seen an intraday fall of as large as 1063 points. Thus,this week turned out to be the week with largest percentage fall in the Sensex. 7697, Oct 27,2008 The Sensex made a low of 7697 points. 8966.68, March 20,2009 The Sensex closed at 8966.68 points, down 35.07 points from the previous day.
Disclaimer:
This document has been prepared by Ghalla Bhansali Stock Brokers Pvt. Limited(Ghalla Bhansali ) . This document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or complete and it should not be relied on as such.Ghalla Bhansali or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors. This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Ghalla Bhansali and affiliates/ group companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe, any such restrictions. The information given in this document is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Ghalla Bhansali reserves the right to make modifications and alterations to this statement as may be required from time to time. However, Ghalla Bhansali is under no obligation to update or keep the information current. Nevertheless, Ghalla Bhansali is committed to providing independent and transparent recommendation to its client and would be happy to provide any information in response to specific client queries. Neither Ghalla Bhansali nor any of its affiliates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Past performance is not necessarily a guide to future performance. The disclosures of interest statements incorporated in this document are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. Ghalla Bhansali Stock Brokers Pvt. Limited generally prohibits its analysts, persons reporting to analysts and their family members from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover. The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.
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20th March, 2009
Information Source: BSE Wikipedia World Exchange Federation
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F N ON IO TI AT ZA IZ LI AL UA TU UT MU EM DE OD TO ET EE RE TR NT AN YA NY AN BA MB OM RO FR

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Domestic Market Capitalization

Information Source: BSE Wikipedia World Exchange Federation

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