MCX-SX starts trading

India’s new stock exchange MCX-SX has started trading in equities, competing against the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

MCX-SX is the third national equity market trading platform. MCX-SX started trading in the shares of 1,116 listed companies.

India’s oldest stock exchange BSE has 5,191 firms on its list.

There are 1,665 companies listed on the National Stock Exchange that started trading in 1994 and has now emerged as the largest stock exchange in the country.

The benchmark index for the MCX-SX is called SX-40, just like BSE Sensex and NSE Nifty.

About SX-40 index:

• A free-float based index of 40 large-cap and liquid stocks, representing diverse sectors of the economy.
• Base value: 10,000
• Base date: March 31, 2010
• The index will measure the economic performance with better representation of various industries and sectors based on ICB, a leading global classification from Britain’s FTSE.

Month: Current Affairs - February, 2013