Date: Dec 19, 2018
Shares of FACOR STEELS LTD. (BOM:532657) closed at 0.27 yesterday. FACOR STEELS LTD. 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 0 and high of 0.
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
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. FACOR STEELS LTD. 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.
