BALDEV RAM MIRDHA INSTITUTE

OF TECHNOLOGY


A
Project Study Report
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!A"#yt$c"# %tudy o& Id$" %toc' ("r'et)
*AIPUR
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For P"rt$"# Fu#&$##(et o& M0B0A P"rt II
Su1($tted To
RA*ASTHAN TECHNICAL UNIVERCITY2 3OTA

Guided by:
Submitted by:
/
F"cu#ty Me(1er% A%4u#
S4"r("
MBA department


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Acknowledgement
The completion of any project depends upon the co-operation, coordination
and combined efforts of several resources of knowledge, inspiration &
energy.
Words fall short acknowledging immense support lent to me yet will try to
give full credit to the deserver's.
I 5ou#d #$'e to t"'e t4$% opportu$ty to t4"' SHRIRAM INSIGHT SHARE
BROKERS LTD. &or 6$7$6 (e t4e e8per$ece "d e8po%ure to F$"c$"#
Ser7$ce% Idu%try0
This project bears the effort of many people; I am indebted to Mr. Mahipal singh
choudhary, Rajasthan head, Shriram Insight Ltd. JAIPR, !ho ga"e me this golden
opport#nity to !or$ !ith Shriram insight Ltd. I !o#ld also li$e to than$s Mr. Pawan
pandey Shriram Insight Ltd !ho g#ided and enco#raged me d#ring my endea"ors.
%y sincere than$s goes to all Shriram Insight Ltd. staff members for their s#pport and
co&operation for ma$ing this project s#ccessf#l.
'inally I !ish to ac$no!ledge my than$s to all the faculty members of my college
for g#iding me and moti"ating me to #nderta$e my project s#ccessf#lly.
9
Contents
1. Executive summary
2. RE!A"E
3. Company Profile
4. Research Methodology
4.1 Title of the Study
4.2 Duration of the Project
4.3 Objective of Study
4.4 Data sources
4.5 Research approach
4.6 Findings and conclusions
4.7 Suggestions and recommendations
5. Core Study
6. SWOT
7. Conclusion
8. Bibliography
#. $ue%ti&nnaire
:
Executive summary
This project is to st#dy in"estors( trading preference !ith special reference to a
Analytical st#dy of Indian stoc$ mar$et.
This project !as done in Shriram Insight bro$ers Ltd., JAIPR.
Shriram Limited is in stoc$ bro$ing ser"ice for o"er )* years no!. It has foc#sed on
strengthening its presence in the rapidly e+panding retail bro$ing mar$et. ,ompany
has obtained S-.I registration to act as Portfolio %anager.
The finance sector in India is booming and !ith the steady rise in the disposable
income of people, there is a heightened ca#se for in"estments. /ith the inflation
hitting the roof, one has to find !ays to get ret#rns at least as m#ch as the inflation
rate. 0epositing the money in ban$s is j#st not the sol#tion anymore. Th#s the f#t#re
of the finance sector in India is indeed bright.
A market is an environment that allows buyers and sellers to trade or exchange
goods, services, and information. These interactions define demand and supply
characteristics and are therefore fundamental to economies.
A market can be defined as a place where any type of trade takes place. Markets are
dependent on two major participants buyers and sellers. Buyers and sellers
typically trade goods, services and/ or information. Historically, markets were physical
meeting places where buyers and sellers gathered together to trade. Although
physical markets are still vital, virtual marketplaces supported by T networks such as
the internet have become the largest and most liquid.
Some markets are very competitive, with a number of vendors selling the same kinds
of products or services. Conversely, some markets have low or no competition,
particularly if the industry is protected by government legislation.
The number of buyers and sellers involved will have a direct bearing on the price of
;
the good or service to be sold, and has become known as the law of supply and
demand. Where there are more sellers than buyers, the availability of supply will push
down prices. f there are more buyers than sellers, the increased demand will push
up prices.
Markets can appear spontaneously when there are goods or services to be
exchanged, or they can be planned and regulated.
Free markets operate under 'laissez-faire' conditions, in that the government does
not intervene in how the market operates. These markets may be distorted if a seller
gains monopoly power by managing the majority of supply (or indeed if a buyer
develops monopsony power by managing demand). Governments or trade bodies
often step in when such distortions undermine the smooth functioning of free
markets.
The currency markets are the largest continuously traded markets in the world.
Twenty four hours a day, seven days a week, governments, banks, investors and
consumers are buying and selling every currency, leading to massive money flows
constantly changing hands.
Stock markets have become highly complex markets that allow investors to buy
shares in companies or in funds that aggregate companies or industries together.
Most stock markets today are primarily electronic networks, although they often
maintain a physical location for buyers, sellers and market makers to interact directly.
Markets originally started as marketplaces usually in the center of villages and towns,
for the sale or barter of farm produce, clothing and tools. These kinds of street
markets developed into a whole variety of consumer-oriented markets, such as
specialist markets, shopping centers, supermarkets, or even virtual markets such as
eBay.
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With the rising price of oil and food, commodity markets are once again under the
spotlight. Commodities underpin economic activity. Commodity markets include:
energy (oil, gas, coal and increasingly renewable energy sources such as biodiesel)
, soft commodities and grains (wheat, oat, corn, rice, soya beans, coffee, cocoa,
sugar, cotton, frozen orange juice, etc), meat, and financial commodities such as
bonds.
Capital goods markets help businesses to buy durable goods to be used in industrial
and manufacturing processes. A number of services can also be associated with
these goods. Transactions tend to be wholesale with large quantities of goods being
transacted at low prices.
Did you see the stock market rally on Monday in BSE and NSE? No one can say No!
Everyone has seen it and everyone is wishing if he should have buy stocks before
this rally. Albeit it could have been a gamble buying stocks before declaration of
election results, it paid off for those who bought. Now that's history. Stock markets are
going to be volatile for next few days. Today, i.e. on Tuesday, markets opened in red,
went till 3oo points down, then recovered and went up to 500 points up and finally
settled for flat closing. So what should a small investor do now? Should he buy stocks
or should be selling stocks that he holds?
This article is a COMPLETE guide to the basics of making money in the stock
market! f you are considering investing in the stock market, you MUST read
this article! We have explained all the concepts and talked about all the
"myths" that people have about the stock market!

=
-
Certificate from the
company

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RE!A"E
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ANSHUL SHARMA
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RESEARCH METH!"#$
T%T"E F THE ST&!$'(
Analytical study of ndian stock market
!&RAT%) F THE *R+ECT'( ,- days
/101E"#)E* %&E P!+$EM ()1 E*E(C& !+2EC%#3E*
The objecti"e of the st#dy cond#cted !as to st#dy of mar$et potential of
online share trading. Secondary objecti"e of c#stomer s#r"ey !as to $no!
the c#stomer a!areness to!ards online share trading. %y other objecti"es
!ere to find o#t the o"erall perception abo#t the system and !hat
moti"ates the people to thin$ abo#t going for online share trading.
/401E3E$!P#)' E*E(C& P$()
The second stage of mar$eting research calls for de"eloping a most
efficient plan for gathering needed information. 0esigning a research plan
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calls for ta$ing decision on data so#rces research, approach, research
instr#ment, sampling plan and contact methods.
1(%( *ources
There are t!o types of methods #sed in data collection i.e. primary data 5
secondary data.
(0 Primary data
Those data !hich are collected at first hand by the researcher especially
for the p#rpose of the st#dy ,are $no!n as primary 0ata .The data is
collected directly from the person in sample pop#lation. In this project
research the collection of data is directly inter"ie!ing c#stomer. In the
collection of the primary data, I ha"e #sed s#r"ey method and #se the
6#estionnaire methods.
%here are mainly two methods for the collection of the primary data
which are given below,
7bser"ational %ethod.
S#r"ey %ethod.
/;
!bservation method-.
In the obser"ation method, it re6#ires the obser"er. The obser"er !ill
$eenly obser"e the person at the time of the inter"ie! 5 record his
beha"ior acc#rately. it is also one of The important method for the
collection of data b#t it re6#ires good 5 e+perienced obser"er !ho can
obser"er The beha"ior of the respondent properly and record it !ith great
acc#racy.
*urvey method-.
It is most pop#lar method for the collection of necessary data from the
respondents. I ha"e #sed s#r"ey method for the collection of the necessary
data.
0ifferent types of the s#r"ey are gi"en belo!,
Telephonic s#r"ey.
Personal inter"ie!.
%ail 6#estionnaires.
%elephonic survey-.
In the telephonic inter"ie!, the inter"ie!er !ill ma$e call to respondents,
inform the respondents abo#t the p#rpose of the call and then he !ill as$
the related 6#estions to the respondents. This method is #sed, !hen the
information to be collected is limited. It is mostly #sed !hen information
to be collected is limited.
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Personal interview-.
In the personal inter"ie!, the inter"ie!er !ill personally meet the
respondent and !ill ta$e is inter"ie!. The inter"ie!er !ill as$ 6#estion in
face to face direction to the respondents or gro#p of respondents.
Mail 5uestionnaire-.
In the mail 6#estioner the inter"ie!er !ill mail the 6#estionnaire to the
respondents and inform them abo#t the p#rpose of the s#r"ey. Also the
time limit for the 6#estionnaire is specified in the mail. This method is #sed
!hen the area to be co"ered is large and the s#r"ey has to be cond#cted in
the specific limit.
In my s#r"ey, I ha"e #sed the personal inter"ie! to $no! c#stomer
a!areness to!ards online share trading. I ha"e "isited respondents
personally.
+0 *econdary data
Any data !hich had been gathered earlier for other p#rposes are secondary
data in hand of mar$eting research. These data has been collected from
company dealer li$e 0ealer profile, ind#strial profile, company profile are
collected from the internet.
The secondary data are collected from the maga8ines, internet and
!eb sites. 0ifferent !eb sites li$e !!!.share$han.com and 9779L-
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search engine help in collecting the detailed information.
E*E(C& (PP!(C&
7#t of 4 !ays of research approaches i.e.
:. 7bser"ation research.
;. S#r"ey Research
). 'oc#s 9ro#p research
4. -+perimental research.
In this project the approach #sed !as s#r"ey approach beca#se the main
objecti"e of o#r s#r"ey !as to st#dy of the mar$et potential and ha"e an
idea abo#t the c#stomer a!areness.
Collection of #nformation-
The information !as collected from c#stomer by personally as$ing them
<#estion and filling the <#estionnaire.
(naly6e %he #nformation.
The information a"ailable is analy8ed in the form of tables, graphs and pie
chart.
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"indings and Conclusions
After the analysis of the data some fig#res came o#t and they !ere tallied
and then some inferences !ere dra!n from them so that the
recommendations can be gi"en to follo!
*uggestions and ecommendation
The s#ggestions gi"en are on the basis of data collected. The
recommendations gi"en can help in designing the portfolio of the client. It
can be analy8ed that !hich income gro#p is in the need of !hich type of
in"estment option.
Core study
Stock market
A stock market is a public market for the trading of company stock and
derivatives at an agreed price; these are securities listed on a stock exchange
as well as those only traded privately.
The size of the world stock market was estimated at about $36.6 trillion US at
the beginning of October 2008 . The total world derivatives market has been
estimated at about $791 trillion face or nominal value, 11 times the size of the
entire world economy. The value of the derivatives market, because it is
stated in terms of notional values, cannot be directly compared to a stock or a
fixed income security, which traditionally refers to an actual value. Moreover,
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the vast majority of derivatives 'cancel' each other out (i.e., a derivative 'bet'
on an event occurring is offset by a comparable derivative 'bet' on the event
not occurring.). Many such relatively illiquid securities are valued as marked to
model, rather than an actual market price.)
The stocks are listed and traded on stock exchanges which are entities a
corporation or mutual organization specialized in the business of bringing
buyers and sellers of the organizations to a listing of stocks and securities
together. The stock market in the United States includes the trading of all
securities listed on the NYSE, the NASDAQ, the Amex, as well as on the
many regional exchanges, e.g. OTCBB and Pink Sheets. European examples
of stock exchanges include the London Stock Exchange, the Deutsche Brse
and the Paris Bourse, now part of Euronext.
Function of stock market
The stock market is one of the most important sources for companies to raise
money. This allows businesses to be publicly traded, or raise additional capital
for expansion by selling shares of ownership of the company in a public
market. The liquidity that an exchange provides affords investors the ability to
quickly and easily sell securities. This is an attractive feature of investing in
stocks, compared to other less liquid investments such as real estate.
History has shown that the price of shares and other assets is an important
part of the dynamics of economic activity, and can influence or be an indicator
of social mood. An economy where the stock market is on the rise is
considered to be an up and coming economy. n fact, the stock market is often
considered the primary indicator of a country's economic strength and
development. Rising share prices, for instance, tend to be associated with
increased business investment and vice versa. Share prices also affect the
wealth of households and their consumption. Therefore, central banks tend to
keep an eye on the control and behavior of the stock market and, in general,
+,
on the smooth operation of financial system functions. Financial stability is the
raison d'tre of central banks.
Exchanges also act as the clearinghouse for each transaction, meaning that
they collect and deliver the shares, and guarantee payment to the seller of a
security. This eliminates the risk to an individual buyer or seller that the
counterparty could default on the transaction.
The smooth functioning of all these activities facilitates economic growth in
that lower costs and enterprise risks promote the production of goods and
services as well as employment. n this way the financial system contributes to
increased prosperity.
The stock market, individual investors, and financial risk
Riskier long-term saving requires that an individual possess the ability to
manage the associated increased risks. Stock prices fluctuate widely, in
marked contrast to the stability of (government insured) bank deposits or
bonds. This is something that could affect not only the individual investor or
household, but also the economy on a large scale. The following deals with
some of the risks of the financial sector in general and the stock market in
particular. This is certainly more important now that so many newcomers have
entered the stock market, or have acquired other 'risky' investments (such as
'investment' property, i.e., real estate and collectables).
With each passing year, the noise level in the stock market rises. Television
commentators, financial writers, analysts, and market strategists are all
overtaking each other to get investors' attention. At the same time, individual
investors, immersed in chat rooms and message boards, are exchanging
questionable and often misleading tips. et, despite all this available
information, investors find it increasingly difficult to profit. !tock prices
skyrocket with little reason, then plummet "ust as quickly, and people who
+/
have turned to investing for their children's education and their own retirement
become frightened. !ometimes there appears to be no rhyme or reason to the
market, only folly.
This is a quote from the preface to a published biography about the long-term
value-oriented stock investor Warren Buffett.[4] Buffett began his career with
$100, and $105,000 from seven limited partners consisting of Buffett's family
and friends. Over the years he has built himself a multi-billion-dollar fortune.
The quote illustrates some of what has been happening in the stock market
during the end of the 20th century and the beginning of the 21st century.
Securities and Exchange .oard o/ %ndia
SEB Bhavan, Mumbai Headquarters of
SEB
rgani0ation !etails
Headquarte
rs
Mumbai, Maharashtra,
ndia
Established 1992
Jurisdiction ndia
Head Chairman
Chairman C B Bhave
Term February 16, 2008 -
Total
Staff[1]
525
//icial 1e2site
Website www.sebi.gov.in
SEB is the Regulator for the Securities Market in ndia. Originally set up by
the Government of ndia in 1988, it acquired statutory form in 1992 with SEB
++
Act 1992 being passed by the ndian Parliament.Chaired by C B Bhave, SEB
is headquartered in the popular business district of Bandra-Kurla complex in
Mumbai, and has Northern, Eastern, Southern and Western regional offices in
New Delhi, Kolkata, Chennai and Ahmadabad.

Organization Structure
Chandrasekhar Bhaskar Bhave is the sixth chairman of the Securities Market
Regulator. Prior to taking charge as Chairman SEB, he had been the
chairman of NSDL (National Securities Depository Limited) ushering in
paperless securities. Prior to his stint at NSDL, he had served SEB as a
Senior Executive Director. He is a former ndian Administrative Service officer
of the 1975 batch.
The Board comprises[2]
)ame !esignation As per
Mr CB Bhave Chairman SEB
CHARMAN (S.4(1)(a) of the
SEB Act, 1992)
Mr KP
Krishnan
Joint Secretary, Ministry of
Finance
Member (S.4(1)(b) of the SEB
Act, 1992)
Mr Anurag
Goel
Secretary, Ministry of Corporate
Affairs
Member (S.4(1)(b) of the SEB
Act, 1992)
Dr G Mohan
Gopal
Director, National Judicial
Academy, Bhopal
Member (S.4(1)(d) of the SEB
Act, 1992)
+9
Mr MS Sahoo Whole Time Member, SEB
Member (S.4(1)(d) of the SEB
Act, 1992)
Dr KM
Abraham
Whole Time Member, SEB
Member (S.4(1)(d) of the SEB
Act, 1992)
Mr Mohandas
Pai
Director, nfosys
Member (S.4(1)(d) of the SEB
Act, 1992)
.om2ay Stock Exchange
%ntroduction
Bombay Stock Exchange is the oldest stock exchange in Asia with a rich
heritage, now spanning three centuries in its 133 years of existence. What is
now popularly known as BSE was established as "The Native Share & Stock
Brokers' Association" in 1875.
BSE is the first stock exchange in the country which obtained permanent
recognition (in 1956) from the Government of ndia under the Securities
Contracts (Regulation) Act 1956. BSE's pivotal and pre-eminent role in the
development of the ndian capital market is widely recognized. t 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
corporatized and demutualised entity incorporated under the provisions of the
Companies Act, 1956, pursuant to the BSE (Corporatization and
Demutualization) Scheme, 2005 notified by the Securities and Exchange
Board of ndia (SEB). With demutualization, BSE has two of world's best
exchanges, Deutsche Brse and Singapore Exchange, as its strategic
partners.
+:
Over the past 133 years, BSE has facilitated the growth of the ndian
corporate sector by providing it with an efficient access to resources. There is
perhaps no major corporate in ndia which has not sourced BSE's services in
raising resources from the capital market.
Today, BSE is the world's number 1 exchange in terms of the number of listed
companies and the world's 5th in transaction numbers. The market
capitalization as on December 31, 2007 stood at USD 1.79 trillion. An investor
can choose from more than 4,700 listed companies, which for easy reference,
are classified into A, B, S, T and Z groups.
The BSE ndex, SENSEX, is ndia's first stock market index that enjoys an
iconic stature, and is tracked worldwide. t 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
has entered into an index cooperation agreement with Deutsche Brse. This
agreement has made SENSEX and other BSE indices available to investors in
Europe and America. Moreover, Barclays Global nvestors (BG), the global
leader in ETFs through its shares brand, has created the 'iShares BSE
SENSEX ndia Tracker' which tracks the SENSEX. The ETF enables investors
in Hong Kong to take an exposure to the ndian equity market.
The first Exchange Traded Fund (ETF) on SENSEX, called "SPcE" is listed
on BSE. t brings to the investors a trading tool that can be easily used for the
purposes of investment, trading, hedging and arbitrage. SPcE allows small
investors to take a long-term view of the market.
+;
BSE provides an efficient and transparent market for trading in equity, debt
instruments and derivatives. t has a nation-wide reach with a presence in
more than 359 cities and towns of ndia. 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 ndia and the second in the world to obtain an SO
9001:2000 certification. t is also the first exchange in the country and second
in the world to receive nformation Security Management System Standard BS
7799-2-2002 certification for its BSE On-line Trading System (BOLT).
BSE continues to innovate. n recent times, it has become the first national
level stock exchange to launch its website in Gujarati and Hindi to reach out to
a larger number of investors. t has successfully launched a reporting platform
for corporate bonds in ndia christened the CDM or ndian Corporate Debt
Market and a unique ticker-cum-screen aptly named 'BSE Broadcast' which
enables information dissemination to the common man on the street.
n 2006, BSE launched the Directors Database and CERS (ndian Corporate
Electronic Reporting System) to facilitate information flow and increase
transparency in the ndian capital market. While the Directors Database
provides a single-point access to information on the boards of directors of
listed companies, the CERS facilitates the corporates in sharing with BSE
their corporate announcements.
BSE also has a wide range of services to empower investors and facilitate
smooth transactions:

%nvestor Services' The Department of nvestor Services redresses grievances of
investors. BSE was the first exchange in the country to provide an amount of Rs.1
+<
million towards the investor protection fund; it is an amount higher than that of any
exchange in the country. BSE launched a nationwide investor awareness
programme- 'Safe nvesting in the Stock Market' under which 264 programmes
were held in more than 200 cities.
The .SE n(line Trading 3."T4' BSE On-line Trading (BOLT) facilitates on-line
screen based trading in securities. BOLT is currently operating in 25,000 Trader
Workstations located across over 359 cities in ndia.
.SE1E.56com' n February 2001, BSE introduced the world's first centralized
exchange-based nternet trading system, BSEWEBX.com. This initiative enables
investors anywhere in the world to trade on the BSE platform.
Surveillance' BSE's On-Line Surveillance System (BOSS) monitors on a real-
time basis the price movements, volume positions and members' positions and
real-time measurement of default risk, market reconstruction and generation of
cross market alerts.
.SE Training %nstitute' BT imparts capital market training and certification, in
collaboration with reputed management institutes and universities. t offers over
40 courses on various aspects of the capital market and financial sector. More
than 20,000 people have attended the BT programmes
Awards
+=
The World Council of Corporate Governance has awarded the Golden
Peacock Global CSR Award for BSE's initiatives in Corporate Social
Responsibility (CSR).
The Annual Reports and Accounts of BSE for the year ended March 31,
2006 and March 31 2007 have been awarded the CA awards for
excellence in financial reporting.
The Human Resource Management at BSE has won the Asia - Pacific
HRM awards for its efforts in employer branding through talent
management at work, health management at work and excellence in
HR through technology
Drawing from its rich past and its equally robust performance in the recent
times, BSE will continue to remain an icon in the ndian capital market.
History
For the premier stock exchange that pioneered the securities transaction
business in ndia, over a century of experience is a proud achievement. A lot
has changed since 1875 when 318 persons by paying a then princely amount
of Re. 1, became members of what today is called Bombay Stock Exchange
Limited (BSE).
Over the decades, the stock market in the country has passed through good
and bad periods. The journey in the 20th century has not been an easy one.
Till the decade of eighties, there was no measure or scale that could precisely
measure the various ups and downs in the ndian stock market. BSE, in 1986,
came out with a Stock ndex-SENSEX- that subsequently became the
barometer of the ndian stock market.
+-
The launch of SENSEX in 1986 was later followed up in January 1989 by
introduction of BSE National ndex (Base: 1983-84 = 100). t comprised 100
stocks listed at five major stock exchanges in ndia - Mumbai, Calcutta, Delhi,
Ahmedabad and Madras. The BSE National ndex was renamed BSE-100
ndex from October 14, 1996 and since then, it is being calculated taking into
consideration only the prices of stocks listed at BSE. BSE launched the dollar-
linked version of BSE-100 index on May 22, 2006.
With a view to provide a better representation of the increasing number of
listed companies, larger market capitalization and the new industry sectors,
BSE launched on 27th May, 1994 two new index series viz., the 'BSE-200'
and the 'DOLLEX-200'. Since then, BSE has come a long way in attuning itself
to the varied needs of investors and market participants. n order to fulfill the
need for still broader, segment-specific and sector-specific indices, BSE has
continuously been increasing the range of its indices. BSE-500 ndex and 5
sectoral indices were launched in 1999. n 2001, BSE launched BSE-PSU
ndex, DOLLEX-30 and the country's first free-float based index - the BSE
TECk ndex. Over the years, BSE shifted all its indices to the free-float
methodology
Several Firsts
At par with the international standards, BSE has in fact been a pioneer in several
areas. t has several firsts to its credit even in an intensely competitive environment.
First in ndia to introduce Equity Derivatives First in ndia to launch a Free
Float ndex First in ndia to launch US$ version of BSE SENSEX First in ndia
to launch Exchange Enabled nternet Trading Platform First in ndia to obtain
SO certification for a stock exchange 'BSE On-Line Trading System' (BOLT)
has been awarded the globally
+>
recognised the nformation Security Management System standard
BS7799-2:2002. First to have an exclusive facility for financial training First in
ndia in the financial services sector to launch its website in Hindi and Gujarati
Shifted from Open Outcry to Electronic Trading within just 50 days First bell-
ringing ceremony in the history of the ndian capital markets (listing ceremony
of Bharti Televentures Ltd.on February 18,2002)
.
National Stock Exchange of ndia
)ational Stock Exchange "imited
Type Stock Exchange
"ocation Mumbai, ndia
Coordinates
193'37"N
7251'35"E &#20;/&#20;19.06028N
72.85972E&#20;/&#20;19.06028;
72.85972
wner
National Stock Exchange of ndia
Limited
7ey people Mr. Ravi Narain Managing Director
Currency NR
)o6 o/ listing
s
1587
9,
Market Cap US$ 1.46 trillion (2006)
%ndexes
S&P CNX Nifty
CNX Nifty Junior
S&P CNX 500
1e2site http://www.nse-india.com/
The )ational Stock Exchange o/ %ndia "imited ()SE), is a Mumbai-based
stock exchange. t is the largest stock exchange in ndia in terms of daily
turnover and number of trades, for both equities and derivative trading.[1].
Though a number of other exchanges exist, NSE and the Bombay Stock
Exchange are the two most significant stock exchanges in ndia, and between
them are responsible for the vast majority of share transactions. The NSE's
key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major
stocks weighted by market capitalization.
NSE is mutually-owned by a set of leading financial institutions, banks,
insurance companies and other financial intermediaries in ndia but its
ownership and management operate as separate entities. There are at least 2
foreign investors NYSE Euronext and Goldman Sachs who have taken a
stake in the NSE. As of 2006[update], the NSE VSAT terminals, 2799 in total,
cover more than 1500 cities across ndia . n October 2007, the equity market
capitalization of the companies listed on the NSE was US$ 1.46 trillion,
making it the second largest stock exchange in South Asia. NSE is the third
largest Stock Exchange in the world in terms of the number of trades in
equities. t is the second fastest growing stock exchange in the world with a
recorded growth of 16.6%.

9/
rigins
NSE building at BKC
The National Stock Exchange of ndia was
promoted by leading Financial institutions at the
behest of the Government of ndia, and was
incorporated in November 1992 as a tax-paying
company. n April 1993, it was recognized as a stock exchange under the
Securities Contracts (Regulation) Act, 1956. NSE commenced operations in
the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market
(Equities) segment of the NSE commenced operations in November 1994,
while operations in the Derivatives segment commenced in June 2000.
%nnovations
NSE has remained in the forefront of modernization of ndia's capital and
financial markets, and its pioneering efforts include:
Being the first national, anonymous, electronic limit order book (LOB)
exchange to trade securities in ndia. Since the success of the NSE,
existent market and new market structures have followed the "NSE"
model.
Setting up the first clearing corporation "National Securities Clearing
Corporation Ltd." in ndia. NSCCL was a landmark in providing
innovation on all spot equity market (and later, derivatives market)
trades in ndia.
Co-promoting and setting up of National Securities Depository Limited,
first depository in ndia[2].
Setting up of S&P CNX Nifty.
9+
NSE pioneered commencement of nternet Trading in February 2000,
which led to the wide popularization of the NSE in the broker
community.
Being the first exchange that, in 1996, proposed exchange traded
derivatives, particularly on an equity index, in ndia. After four years of
policy and regulatory debate and formulation, the NSE was permitted to
start trading equity derivatives
Being the first and the only exchange to trade GOLD ETFs (exchange
traded funds) in ndia.
NSE has also launched the NSE-CNBC-TV18 media centre in
association with CNBC-TV18, a
it is the one of the most important stock exchange in the world
S!" CN# Nifty
S&P CNX Nifty is a well diversified 50 stock index accounting for 21 sectors of
the economy. t is used for a variety of purposes such as benchmarking fund
portfolios, index based derivatives and index funds.
S&P CNX Nifty is owned and managed by ndia ndex Services and Products
Ltd. (SL), which is a joint venture between NSE and CRSL. SL is ndia's
first specialised company focused upon the index as a core product. SL has
a Marketing and licensing agreement with Standard & Poor's (S&P), who are
world leaders in index services.
99
The total traded value for the last six months of all Nifty stocks is
approximately 65.68% of the traded value of all stocks on the NSE
Nifty stocks represent about 65.34% of the total market capitalization
as on Mar 31, 2009.
mpact cost of the S&P CNX Nifty for a portfolio size of Rs.2 crore is
0.16%
S&P CNX Nifty is professionally maintained and is ideal for derivatives
trading
Sensex 8 the )i/ty
The Sensex is an "index". What is an index? An index is basically an indicator. t
gives you a general idea about whether most of the stocks have gone up or most of
the stocks have gone down.
The Sensex is an indicator of all the major companies of the BSE.
The Nifty is an indicator of all the major companies of the NSE.
f the Sensex goes up, it means that the prices of the stocks of most of the major
companies on the BSE have gone up. f the Sensex goes down, this tells you that the
stock price of most of the major stocks on the BSE have gone down.
Just like the Sensex represents the top stocks of the BSE, the Nifty represents the
top stocks of the NSE.
Just in case you are confused, the BSE, is the Bombay Stock Exchange and the NSE
is the National Stock Exchange. The BSE is situated at Bombay and the NSE is
situated at Delhi. These are the major stock exchanges in the country. There are
other stock exchanges like the Calcutta Stock Exchange etc. but they are not as
popular as the BSE and the NSE.Most of the stock trading in the country is done
9:
though the BSE & the NSE.
Ma9or Factors That A//ect Stock *rice in stock market glo2ally
When you wish to invest in the stock market, then you should always make a
good survey of the whole market. As you know that you cannot predict the
stock market, so in that case you need to know the functioning of the market.
There are some ma9or /actors that a//ect stock price. So let us discuss
about the different factors affecting the stock price in this article.
!emand A)! S&**"$
One of the major factors affecting stock price is demand and supply. The trend
of the stock market trading directly affects the price. When people are buying
more stocks, then the price of that particular stock increases. On the other
hand if people are selling more stocks, then the price of that stock falls. So,
you should be very careful when you decide to invest in the %ndian stock
market.
Market Cap
Never try to guess the worth of a company simply by comparing the price of
the stock. You should always keep in mind that it is not the stock but the
market capitalization of the company that determines the worth of the
company. So market cap is another factor that affects stock price.
1hat is :market capitali0ation:;
You probably think that you have never heard of the term market
capitalization before. You have! When you are talking about mid-cap,
small-cap and large-cap stocks, you are talking about market
capitalization!
9;
Market cap or market capitalization is simply the worth of a company in terms
of it's shares! To put it in a simple way, if you were to buy all the shares of a
particular company, what is the amount you would have to pay? That amount
is called the market capitalization!
To calculate the market cap of a particular company, simply multiply the
current share price by the number of shares issued by the company! Just
to give you an idea, ONGC, has a market cap of Rs.170,705.21 Cr (when
this article was written)
Depending on the value of the market cap, the company will either be a mid-
cap or large-cap or small-cap company! Now the question is, how do YOU
calculate the market cap of a particular company? You don't! Just go to a
website like MoneyControl.com and look up the company whose market cap
you are interested in finding out! The figure in front of Mkt. Cap will be the
market cap value.
)ews
When you get positive news about a company then it can increase the buying
interest in the market. On the other hand, when there is a negative press
release, it can ruin the prospect of a stock. n this case you should remember
that news should not matter much but the overall performance of the
company matters more. So, news is another factor affecting stock price.
Earning<*rice Ratio
Another important factor affecting stock price is the earning/price ratio. This
gives you a fair idea of a company's share price when it is compared to its
earnings. The stock becomes undervalued if the price of the share is much
lower than the earnings of a company. But if this is the case, then it has the
9<
potential to rise in the near future. The stock becomes overvalued if the price
is much higher than the actual earning.
So, these are the ma9or /actors that a//ect stock price.
Trading Styles
There are several different styles of day trading, suited to different day trader
personalities. The styles range from short term trading such as scalping where
positions are only held for a few seconds or minutes, to longer term swing and
position trading where a position may be held throughout the trading day. Most day
trading systems have a lot of flexibility, and can have open positions for anywhere
from a few minutes to a few hours, depending upon how the trade is doing (whether it
is in profit). Some day traders will trade multiple styles, but most traders will choose a
single style and only take that type of trade.
7E$ STAT%ST%CS
$EAR(=>>?
. BUSNESS TRANSACTED AT BSE
Turnover, Average Daily Turnover, Turnover for the
month, V-SAT Turnover, No. of Shares Traded, No. of
Script Traded, Deliveries, Market Capitalisation, No. of
Trading Days, Derivatives.
. LSTNG AND CAPTAL RASED
No. of Companies Listed, No. of Scrips Listed, Newly
Listed securities of existing companies, Capital Listed
during the month, Amount offered/raised through PO
9=
& Rights, Capital raised through FCCB/Euro ssue.
. NDEX AND RATOS
BSE Sensitive ndex, BSE TECK ndex, BSE 100
ndex, BSE 200 ndex, Dollex-200, BSE 500 ndex,
P/E Ratio, Price to Book Value, Dividend Yield %.
V. BUSNESS TRANSACTED BY Fs
No. of Registered Fs, Fs transactions in BSE, Fs
transactions (Equity & Debt) all ndia.
V. MEMBERSHP AND TWS
No. of Members, No. of Trader Work Station (TWS),
No. of Cities.
V. DOLLAR EXCHANGE RATE
Rupee Dollar Rate.
Conversion
Ta2le
1 Billion =
100 Crore, 1
Crore = 10
Million, 1
million = 10
Lakh, 1Lakh
= 100
Thousand.
9-
.SE *R!&CTS
!ata *roducts
BSE provides 3 basic types of data products
a) Market data Equity, Derivatives and debt.
b) ndices 17.
c) Corporate Data Results (Quarterly, Half-yearly, Annual),
Announcements, Shareholding Pattern.
These Data Products are provided at two levels viz. Level 1 and Level 2.
1 ) Level 1 Data contains the following information
i. Scrip code
ii. Open, High, low and last traded price
iii. Best Bid / offer with volume
iv. Traded Volume
v. Close and last traded quantity (Only for live feed)
2 ) Level 2 Data contains the following information in addition
to the level 1 data.
i. Weighted average price
ii. Upper Circuit limit and lower circuit limit
iii. Turnover value, number of trades, trend
v. Total Buy quantity and Total sell quantity
CA*%TA" %)F"1S
During the April-January period of 2008-09, ndia attracted total foreign investments
of US $ 15,545 million. The foreign direct investment (FD) stood at US $ 27,426
9>
million, while the portfolio investment stood at US $ -11,881 million.
Monthly trends in /oreign investments
($ million)
Months
Foreign
direct
investme
nts
*ort/olio
investme
nts
Total
/oreign
investm
ents
=>>@(
>A3*4
=>>A(>?3*4
=>>@(
>A3*4
=>>A(>?3*4
=>>@(
>A3*4
=>>A(
>?3*4
April 1643 3749 1974 -880 3617 2869
May 2120 3932 1852 -288 3972 3644
+une 1238 2392 3664 -3010 4902 -618
+uly 705 2247 6713 -492 7418 1755
August 831 2328 -2875 593 -2044 2921
Septem2e
r
713 2562 7081 -1403 7794 1159
cto2er 2027 1497 9564 -5243 11591 -3746
:,
)ovem2e
r
1864 1083 -107 -574 1757 509
!ecem2e
r
1558 1362 5294 30 6852 1392
+anuary 1767 2733 6739 -614 8506 2119
Fe2ruary 5670 - -8904 - -3234 -
March 4438 - -1600 - 2838 -
April(
+anuary
- 27426 - -11881 - 15545
Stock Market Trends
$ear <Month .SE
Sensi
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73
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22
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44
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47
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.96
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69
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60
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1415
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::
$erivatives
Commodities whose value is derived from the price of some underlying asset
like securities, commodities, bullion, currency, interest level, stock market
index or anything else are known as Derivatives.
n more simpler form, derivatives are financial security such as an option or
future whose value is derived in part from the value and characteristics of
another security, the underlying asset.
t is a generic term for a variety of financial instruments. Essentially, this
means you buy a promise to convey ownership of the asset, rather than the
asset itself. The legal terms of a contract are much more varied and flexible
than the terms of property ownership. n fact, it's this flexibility that appeals to
investors.
When a person invests in derivative, the underlying asset is usually a
commodity, bond, stock, or currency. He bet that the value derived from the
underlying asset will increase or decrease by a certain amount within a certain
fixed period of time.
'Futures' and 'options' are two commodity traded types of derivatives. An
'options' contract gives the owner the right to buy or sell an asset at a set price
on or before a given date. On the other hand, the owner of a 'futures' contract
is obligated to buy or sell the asset.
The other examples of derivatives are warrants and convertible bonds (similar
to shares in that they are assets). But derivatives are usually contracts.
Beyond this, the derivatives range is only limited by the imagination of
:;
investment banks. t is likely that any person who has funds invested, an
insurance policy or a pension fund, that they are investing in, and exposed to,
derivatives wittingly or unwittingly.
Shares or bonds are financial assets where one can claim on another person
or corporation; they will be usually be fairly standardized and governed by the
property of securities laws in an appropriate country.
On the other hand, a contract is merely an agreement between two parties,
where the contract details may not be standardized.
Derivatives securities or derivatives products are in real terms contracts rather
than solid as it fairly sounds.
ndia Commodity %arket
The vast geographical extent of ndia and her huge population is aptly
complemented by the size of her market. The broadest classification of the
%ndian Market can be made in terms of the commodity market and the bond
market. Here, we shall deal with the former in a little detail.
The commodity market in %ndia comprises of all palpable markets that we
come across in our daily lives. Such markets are social institutions that
facilitate exchange of goods for money. The cost of goods is estimated in
terms of domestic currency 6 %ndia Commodity Market can be subdivided into
the following two categories:
:<
1holesale Market
Retail Market
Let us now take a look at what the present scenario of each of the above
markets is like.
The traditional wholesale market in %ndia dealt with whole sellers who
bought goods from the farmers and manufacturers and then sold them to the
retailers after making a profit in the process. t was the retailers who finally
sold the goods to the consumers. With the passage of time the importance of
whole sellers began to fade out for the following reasons:
The whole sellers in most situations, acted as mere parasites who did
not add any value to the product but raised its price which was
eventually faced by the consumers.
The improvement in transport facilities made the retailers directly
interact with the producers and hence the need for whole sellers was
not felt.
n recent years, the extent of the retail market (both organized and
unorganized) has evolved in leaps and bounds. n fact, the success stories of
the commodity market of ndia in recent years has mainly centered around
the growth generated by the Retail Sector6 Almost every commodity under
the sun both agricultural and industrial are now being provided at well
distributed retail outlets throughout the country.
Moreover, the retail outlets belong to both the organized as well as the
unorganized sector. The unorgani0ed retail outlets of the yesteryears
consist of small shop owners who are price takers where consumers face a
highly competitive price structure. The organi0ed sector on the other hand
are owned by various business houses like Pantaloons, Reliance, Tata and
:=
others. Such markets are usually sell a wide range of articles both agricultural
and manufactured, edible and inedible, perishable and durable. Modern
marketing strategies and other techniques of sales promotion enable such
markets to draw customers from every section of the society. However the
growth of such markets has still centered around the urban areas primarily
due to infrastructural limitations.
Considering the present growth rate, the total valuation of the %ndian Retail
Market is estimated to cross Rs. 10,000 billion by the year 2010. Demand for
commodities is likely to become four times by 2010 than what it presently is.
%oney %arket
When the stock prices show a downward trend , then it becomes risky to
keep savings there. Although the stock market is associated with high risks
and high returns , many are risk averse and prefer to invest in the more
secure money market .
The money market deals with very short term de2t securities that mature in
less than a year. Since the money market is extremely safe, it yields very low
returns unlike the bond market. The money market securities that are issued
by the government or financial institutions or large corporations are very liquid.
Since the money market securities trade at very high denominations it
becomes very difficult for the individual investors to have access to it.
The money market is a type of a dealer market where firms purchase
securities in their own account by assuming the risks themselves. Unlike the
stock exchanges the money market securities do not operate in exchanges or
through brokers. Transactions take place over phone or the electronic
system6
:-
One may browse through the following links to have a more detailed
information about money market.
Money Market !e/inition
Money Market Definition is simply meant as the short-term debt market. Treasury
Bills and certificate of deposits are regarded as the instruments in the money market.
1orld Money Market
World Money Market has been providing origination, trading and the distribution of
short-term debt instruments across different regions over the world. Find detailed on
the world money market.
Money Market %ndex Money Market ndex is a true indicator of the prevailing money
market, which renders a clear-cut idea on making investment.
Money Market Rates
Money Market Rates can be simply defined as the market rates including the broker
call loan rate, federal funds rate, rates on bankers' acceptance etc. Get the method
of finding the money market rates.
Market Segments
verview
The United States Government formally defines nformation Security as:
"Protecting information and information systems from unauthorized access, use,
disclosure, disruption, modification, or destruction in order to provide -
integrity, which means guarding against improper information modification or
destruction, and includes ensuring information non-repudiation and
authenticity;
:>
con/identiality, which means preserving authorized restrictions on access
and disclosure, including means for protecting personal privacy and
proprietary information; and
availa2ility, which means ensuring timely and reliable access to and use of
information."
While the business drivers (Risks, Objectives) and challenges (non-homogeneity,
organizational size) may differ considerably across different market sectors, the basic
requirements of nformation Security remain the same. Pivot Point Security has
worked extensively across market segments and with many of the worlds largest:
Financial nstitutions
State and City Governments
Pharmaceutical Companies
Tele Communications Companies
Advertising / Media Organizations
Health Care Organizations
Non-Profit Organizations
We have broken out a small handful of these market segments into specific sections
on our website to make it easier for someone reviewing our site to determine our
understanding of those market sectors that have some level of uniqueness relating to
specific drivers and challenges.
Please do not look for client names or precise detail as to the work that we do. As
Security Practitioners we understand the value of seemingly insignificant pieces of
information as a basis for malicious action, and accordingly have a strict policy of
non-disclosure of any client data, including names.
The next time you note a Security firm name-dropping in an attempt to gain your trust
/ business, ask yourself whose best interest they are really looking out for.
;,
The role o/ stock exchanges
Stock exchanges have multiple roles in the economy, this may include the following:
[1]
Raising capital /or 2usinesses
The Stock Exchange provide companies with the facility to raise capital for expansion
through selling shares to the investing public.[2]
Mo2ili0ing savings /or investment
When people draw their savings and invest in shares, it leads to a more rational
allocation of resources because funds, which could have been consumed, or kept in
idle deposits with banks, are mobilized and redirected to promote business activity
with benefits for several
economic sectors such as agriculture, commerce and industry, resulting in stronger
economic growth and higher productivity levels and firms.
Facilitating company growth
Companies view acquisitions as an opportunity to expand product lines, increase
distribution channels, hedge against volatility, increase its market share, or acquire
other necessary business assets. A takeover bid or a merger agreement through the
stock market is one of the simplest and most common ways for a company to grow
by acquisition or fusion.
;/
Redistri2ution o/ wealth
Stock exchanges do not exist to redistribute wealth. However, both casual and
professional stock investors, through dividends and stock price increases that may
result in capital gains, will share in the wealth of profitable businesses.
Corporate governance
By having a wide and varied scope of owners, companies generally tend to improve
on their management standards and efficiency in order to satisfy the demands of
these shareholders and the more stringent rules for public corporations imposed by
public stock exchanges and the government. Consequently, it is alleged that public
companies (companies that are owned by shareholders who are members of the
general public and trade shares on public exchanges) tend to have better
management records than privately-held companies (those companies where shares
are not publicly traded, often owned by the company founders and/or their families
and heirs, or otherwise by a small group of investors). However, some well-
documented cases are known where it is alleged that there has been considerable
slippage in corporate governance on the part of some public companies. The dot-com
bubble in the early 2000s, and the subprime mortgage crisis in 2007-08, are classical
examples of corporate mismanagement. Companies like Pets.com (2000), Enron
Corporation (2001), One.Tel (2001), Sunbeam (2001), Webvan (2001), Adelphia
(2002), MC WorldCom (2002), Parmalat (2003), American nternational Group
(2008), Lehman Brothers (2008), and Satyam Computer Services (2009) were
among the most widely scrutinized by the media.
Creating investment opportunities /or small investors
As opposed to other businesses that require huge capital outlay, investing in shares
is open to both the large and small stock investors because a person buys the
;+
number of shares they can afford. Therefore the Stock Exchange provides the
opportunity for small investors to own shares of the same companies as large
investors.
#overnment capital(raising /or development pro9ects
Governments at various levels may decide to borrow money in order to finance
infrastructure projects such as sewage and water treatment works or housing estates
by selling another category of securities known as bonds. These bonds can be raised
through the Stock Exchange whereby members of the public buy them, thus loaning
money to the government. The issuance of such bonds can obviate the need to
directly tax the citizens in order to finance development, although by securing such
bonds with the full faith and credit of the government instead of with collateral, the
result is that the government must tax the citizens or otherwise raise additional funds
to make any regular coupon payments and refund the principal when the bonds
mature.
.arometer o/ the economy
At the stock exchange, share prices rise and fall depending, largely, on market
forces. Share prices tend to rise or remain stable when companies and the economy
in general show signs of stability and growth. An economic recession, depression, or
financial crisis could eventually lead to a stock market crash. Therefore the
movement of share prices and in general of the stock indexes can be an indicator of
the general trend in the economy.
Ma9or stock exchanges
Twenty Major Stock Exchanges n The World: Market Capitalization & Year-to-date
Turnover at the end of January 2009
;9
Region Stock Exchange
Market
Value
(millions
USD)
Total Share
Turnover
(millions USD)
Africa Johannesburg Securities Exchange 432,422.1 17,999.7
Americas NASDAQ 2,203,759.6 2,325,238.3
Americas So Paulo Stock Exchange 611,695.0 30,748.5
Americas Toronto Stock Exchange 997,997.4 84,323.0
Americas New York Stock Exchange 9,363,074.0 1,517,615.7
Asia-
Pacific
Australian Securities Exchange 587,602.7 37,400.1
Asia-
Pacific
Bombay Stock Exchange 613,187.6 14,425.0
Asia-
Pacific
Hong Kong Stock Exchange 1,237,999.5 80,696.8
Asia-
Pacific
Korea Exchange 470,417.3 81,755.0
Asia-
Pacific
National Stock Exchange of ndia 572,566.8 39,057.1
Asia-
Pacific
Shanghai Stock Exchange 1,557,161.3 142,144.2
Asia-
Pacific
Shenzhen Stock Exchange 389,248.3 75,365.5
Asia-
Pacific
Tokyo Stock Exchange 2,922,616.3 301,781.5
Europe Euronext 1,862,930.9 146,173.3
Europe Frankfurt Stock Exchange (Deutsche Brse) 937,452.9 264,970.3
Europe London Stock Exchange 1,758,157.7 241,151.1
;:
Europe
Madrid Stock Exchange (Bolsas y Mercados
Espaoles)
871,061.4 114,994.0
Europe Milan Stock Exchange (Borsa taliana) 456,206.7 48,094.8
Europe Nordic Stock Exchange Group OMX 1 503,725.8 55,299.9
Europe Swiss Exchange 761,896.1 63,435.6
&nalysis
Technical analysis is a method of predicting price movements and future
market trends by studying charts of past market action. Technical analysis is
concerned with what has actually happened in the market, rather than what
should happen and takes into account the price of instruments and the volume
of trading, and creates charts from that data to use as the primary tool. One
major advantage of technical analysis is that experienced analysts can follow
many markets and market instruments simultaneously.
Technical analysis is built on three essential principles:
1. Market action discounts everythingH This means that the actual price is a
reflection of everything that is known to the market that could affect it, for
example, supply and demand, political factors and market sentiment.
However, the pure technical analyst is only concerned with price movements,
not with the reasons for any changes.
2. *rices move in trends Technical analysis is used to identify patterns of
market behavior that have long been recognized as significant. For many
given patterns there is a high probability that they will produce the expected
results. Also, there are recognized patterns that repeat themselves on a
consistent basis.
;;
3. History repeats itsel/ Sensex patterns have been recognized and
categorized for over 100 years and the manner in which many patterns are
repeated leads to the conclusion that human psychology changes little over
time.
Some major technical analysis tools are described below:
Relative Strength %ndex 3RS%4'
The RS measures the ratio of up-moves to down-moves and normalizes the
calculation so that the index is expressed in a range of 0-100. f the RS is 70
or greater, then the instrument is assumed to be overbought (a situation in
which prices have risen more than market expectations). An RS of 30 or less
is taken as a signal that the instrument may be oversold (a situation in which
prices have fallen more than the market expectations).
Stochastic oscillator'
This is used to indicate overbought/oversold conditions on a scale of 0-100%.
The indicator is based on the observation that in a strong up trend, period
closing prices tend to concentrate in the higher part of the period's range.
Conversely, as prices fall in a strong down trend, closing prices tend to be
near to the extreme low of the period range. Stochastic calculations produce
two lines, %K and %D that are used to indicate overbought/oversold areas of
a chart. Divergence between the stochastic lines and the price action of the
underlying instrument gives a powerful trading signal.
Moving Average Convergence !ivergence 3MAC!4'
This indicator involves plotting two momentum lines. The MACD line is the
difference between two exponential moving averages and the signal or trigger
line, which is an exponential moving average of the difference. f the MACD
and trigger lines cross, then this is taken as a signal that a change in the trend
is likely.
;<
)um2er theory'
Fibonacci numbers: The Fibonacci number sequence (1,1,2,3,5,8,13,21,34...)
is constructed by adding the first two numbers to arrive at the third. The ratio
of any number to the next larger number is 62%, which is a popular Fibonacci
retracement number. The inverse of 62%, which is 38%, is also used as a
Fibonacci retracement number.
#ann num2ers'
W.D. Gann was a stock and a commodity trader working in the '50s who
reputedly made over million in the markets. He made his fortune using
methods that he developed for trading instruments based on relationships
between price movement and time, known as time/price equivalents. There is
no easy explanation for Gann's methods, but in essence he used angles in
charts to determine support and resistance areas and predict the times of
future trend changes. He also used lines in charts to predict support and
resistance areas.
1aves
Elliott wave theory: The Elliott wave theory is an approach to market analysis
that is based on repetitive wave patterns and the Fibonacci number sequence.
An ideal Elliott wave patterns shows a five-wave advance followed by a three-
wave decline.
#aps
Gaps are spaces left on the bar chart where no trading has taken place. An up
gap is formed when the lowest price on a trading day is higher than the
highest high of the previous day. A down gap is formed when the highest price
of the day is lower than the lowest price of the prior day. An up gap is usually a
sign of market strength, while a down gap is a sign of market weakness. A
breakaway gap is a price gap that forms on the completion of an important
price pattern. t usually signals the beginning of an important price move. A
;=
runaway gap is a price gap that usually occurs around the mid-point of an
important market trend. For that reason, it is also called a measuring gap. An
exhaustion gap is a price gap that occurs at the end of an important trend and
signals that the trend is ending.
Trends
A trend refers to the direction of prices. Rising peaks and troughs constitute an
uptrend; falling peaks and troughs constitute a downtrend that determines the
steepness of the current trend. The breaking of a trend line usually signals a
trend reversal. Horizontal peaks and troughs characterize a trading range.
Moving averages are used to smooth price information in order to confirm
trends and support and resistance levels. They are also useful in deciding on
a trading strategy, particularly in futures trading or a market with a strong up or
down trend.
The most common technical tools:
Coppock Curve is an investment tool used in technical analysis for predicting
bear market lows.
!M% (Directional Movement ndicator) is a popular technical indicator used to
determine whether or not a currency pair is trending.
Unlike the fundamental analyst, the technical analyst is not much concerned
with any of the "bigger picture" factors affecting the market, but concentrates
on the activity of that instrument's market.
Fundamental analysis
Fundamental analysis is a method of forecasting the future price movements
of a financial instrument based on economic, political, environmental and
;-
other relevant factors and statistics that will affect the basic supply and
demand of whatever underlies the financial instrument. n practice, many
market players use technical analysis in conjunction with fundamental analysis
to determine their trading strategy. Fundamental analysis focuses on what
ought to happen in a market. Factors involved in price analysis: Supply and
demand, seasonal cycles, weather and government policy.
Fundamental analysis is a macro or strategic assessment of where a currency
should be trading based on any criteria but the movement of the currency's
price itself. These criteria often include the economic condition of the country
that the currency represents, monetary policy, and other "fundamental"
elements.
Many profitable trades are made moments prior to or shortly after major
economic announcements.
*ositive Stock market news'
B6 Government stability is big positive reason for sensex.
2. Global Telecom Companies are planning to buy 20-25% stake in Reliance
Communications. R-Com stock lost 70% of value in 2008. Anil Ambani family
holds 67% stake in the company. This deal is beneficial for investors as only
12% of shares are available for trading after this purchase in the secondary
market. Promoter will not reduce his holding.
3. Manpower survey: ndia is the second most optimistic employment market
in the world but there will freezing in hiring in the next 3 months. T and
Hospitality sectors are the worst affected while Telecom is the most optimistic
one.
;>
FCC. shocks' Foreign currency convertible bonds (FCCBs?) of many
companies will be due for repayment in the next 3 years. As stock markets are
unlikely to recover in the next 12-15 months, it is interesting to see how
promoters will clear their dues. We may hear some shocking news on this
front in the next 2 years.
)*A shocks'
Many people are underestimating the impact of Non Performing Assets
(NPAs). NPAs will affect in 2 ways. NPAs will not only propel the negative
sentiment but increase the banks reluctance to give loans which will once
again destroy the positive aspects of the bailout packages. Only positive
aspect is many PSU banks reported fall in NPAs in 2008 over 2007 except
SB and OB.
)*A statistics'
NPAs of CC Bank in 2007: Rs 5,930 crore.
NPAs of CC Bank in 2008: Rs 9,500 crore..
%nteresting statistics a2out Asian and 1orld economies'
1. 1orld .ank estimates'
A. November, 2008: World economy will grow by 2.2% in 2009.
B. December, 2008: World economy will grow by 0.9% in 2009.
2. A!. estimates a2out Asian economy in =>>?'
A. September, 2008: Asian economy will grow by 7.2% in 2009.
B. December, 2008: Asian economy will grow by 5.8% in 2009.
<,
3. A!. estimates a2out Asian economy in =>>A'
A. September, 2008: Asian economy will grow by 7.5% in 2008.
B. December, 2008: Asian economy will grow by 6.9% in 2008.
4. Current *<E o/ Sensex' B>6
P/E of Sensex in 2008 economic slowdown: 9.5
This is a much severe crisis than 2001 slowdown.
Recession
A recession is a decline in a country's gross domestic product (GDP) growth
for two or more consecutive quarters of a year. A recession is also preceded
by several quarters of slowing down.
Causes of recession
An economy which grows over a period of time tends to slow down the growth
as a part of the normal economic cycle. An economy typically expands for 6-
10 years and tends to go into a recession for about six months to 2 years.
A recession normally takes place when consumers lose confidence in the
growth of the economy and spend less.
This leads to a decreased demand for goods and services, which in turn leads
to a decrease in production, lay-offs and a sharp rise in unemployment.
</
nvestors spend less as they fear stocks values will fall and thus stock markets
fall on negative sentiment.
Stock markets ! recession
The economy and the stock market are closely related. The stock markets
reflect the buoyancy of the economy. n the US, a recession is yet to be
declared by the Bureau of Economic Analysis, but investors are a worried lot.
The ndian stock markets also crashed due to a slowdown in the US economy.
The Sensex crashed by nearly 13 per cent in just two trading sessions in
January. The markets bounced back after the US Fed cut interest rates.
However, stock prices are now at a low ebb in ndia with little cheer coming to
investors.
When the global economy has been cooling down, and the financial sector in
particular has been heading from one cold shower to the next, it was
inevitable that stock markets around the world would start catching the chill.
The way in which Asian stock prices responded last week to the fall of the
Dow Jones and Nasdaq indices by 4 per cent, hitting a 10-month low, has also
punctured a hole in the decoupling argument (which said Asia would not be hit
by an America-based problem) that had become fashionable in recent weeks.
nvestors around the world have taken note of the fact that the broad-based
S&P 500 index is at a 16-month low, along with European stocks. And
investors seem to have little faith in the Bush rescue plan's ability to ward off a
recession in the US. The Fed will almost certainly respond with sharp cuts in
interest rates towards the end of the month, but the market has already
discounted for that.
%ndian markets worst hit
<+
t is interesting that ndian markets were hit the most, among all Asian
markets. This may have been because the correction in the overheated
Chinese stock market began some weeks ago. nvestors will also have
noticed that the third-quarter corporate numbers show significant deceleration
in both sales and profit growth, when compared to the same quarter a year
earlier.
When coupled with the data showing that the export target for the year will be
missed by a wide margin, and that the industrial sector has suffered a sharp
slowdown, it was inevitable that stock prices would have to come off their
dizzy highs.
What began with profit-booking and unwinding of long positions cascaded on
Friday into a 3.5 per cent decline in the Sensex. Foreign institutional investors
had moved to the sidelines in the secondary markets even earlier, and Fs
have been net sellers to the tune of Rs 2,200 crore (Rs 22 billion) in January.
Also relevant was the Reliance Power PO, which pulled in a record amount of
application money (Rs 1,15,000 crore (Rs 1,150 billion)). Even if a third or a
fourth of that was being garnered by sale of stocks, it is a large enough sum
for the market to go into correction mode.
There is no doubt that valuations had become expensive. Even after the 10
per cent correction from the market's peak, the Sensex trades at a trailing P/E
multiple of 24.5, which is not cheap in anyone's book.
$etF 2uying may soon 2egin
A global liquidity surplus had certainly contributed to momentum buying. The
question is whether the correction that has occurred so far is enough for fresh
buying to emerge, or whether a further fall is required before value-based
buying starts.
On a forward basis, the Sensex trades at an FY09 estimated P/E of 18. The
<9
floor therefore would probably be a Sensex level of 17,000-odd -- which would
mean wiping out the gains of the past three months, no more. Provided the
general economic and corporate news does not get worse than has already
been anticipated, fresh buyingcannot be very far away.
%mpact o/ a &S recession on %ndia
A slowdown in the US economy is bad news for ndia.
ndian companies have major outsourcing deals from the US. ndia's exports
to the US have also grown substantially over the years. The ndia economy is
likely to lose between 1 to 2 percentage points in GDP growth in the next
fiscal year. ndian companies with big tickets deals in the US would see their
profit margins shrinking.
The worries for exporters will grow as rupee strengthens further against the
dollar. But experts note that the long-term prospects for ndia are stable. A
weak dollar could bring more foreign money to ndian markets. Oil may get
cheaper brining down inflation. A recession could bring down oil prices to $70.
Between January 2001 and December 2002, the Dow Jones ndustrial
Average went down by 22.7 per cent, while the Sensex fell by 14.6 per cent. f
the fall from the record highs reached is taken, the DJA was down 30 per cent
in December 2002 from the highs it hit in January 2000. n contrast, the
Sensex was down 45 per cent.
The whole of Asia would be hit by a recession as it depends on the US
economy. Asia is yet to totally decouple itself (or be independent) from the rest
of the world, say experts.
Black Monday saw bloodbath on Dalal Street as the ndian stock markets
crashed by over 1430 points in afternoon trade #the market has since then
<:
recovered somewhat$, reminding investors that there is no one-way bet on the
stock market.
factors.
One, there is a change in the global investment climate. One of the primary
triggers is the huge fear of the United States' economy going into a recession
with foreign institutional investors trying to reallocate their funds from risky
emerging markets to stable developed markets. Analysts are now expecting a
cut in US interest rates.
Hedge funds and Fs could have been the biggest sellers in the ndian
markets, booking profits and making the most of the unprecedented bull run
that has dominated the ndian stock market for a long time now.
The current volatility is also linked to global bourses. There is a big correlation
among global markets. The presence of hedge funds across asset classes,
along with increased global movement of capital, has increased event-related
volatility.
Volatility in commodities markets has also significantly affected equity
markets.
A combination of global and local factors is affecting this market, said Mihir
Vora of HSBC Mutual Fund, on NDTV Profit. On the global front, other
emerging markets were down nearly 20% so ndia is playing catch-up, he
said.
On the local front there has been a huge build-up in derivatives positions and
volatility led to margin calls. Also many POs have sucked out liquidity from the
primary market into the secondary market, said Vora. At current levels it would
be a buy call and we would not advise investors to wait to catch the bottom,
<;
he added.
Analysts expect the markets to continue to be choppy for a while till global
liquidity and commodity prices settle in. With the markets falling, a technical
correction in the derivatives segment has perpetrated a larger fall.
The Sensex can fall another 10-15%, said Adrian Mowat of JP Morgan, on
NDTV Profit.

S'OT analysis(
Strength'
J High return
J Large investment
J Acquire capital for expanding the business
J Secure the future losses
1eakness'
J High risk
J Based on the fluctuation. t becomes high loss when market goes
down.
J Can't predict future
J Based on rumors
pportunity'
<<
J Lot of people wants to invest but don't invest due to insufficient
knowledge.
J Market is providing new opportunities and new options to invest.
Threat '
J Recession
J New government
J Bubble burst
J Fluctuates dollar prices
Matrix
STRE)#TH
J High return
J Large investment
J Acquire capital for expanding
the business
J Secure the future losses
Weakness:
J High risk
J Based on the
fluctuation. t becomes
high loss when market
goes down.
J Can't predict future
J Based on rumors

pportunity Threat
<=
J Lot of people wants to invest
but don't invest due to
insufficient knowledge.
J Market is providing new
opportunities and new options
to invest.
J Recession
J New government
J Bubble burst
J Fluctuates dollar prices
Conclusion(
Through this research we can conclude that:
J Stock market fluctuates by the external environment.
J Stock market is all about future prediction.
J Stock market is very sensitive market.
J t is based onhigh risk and high return.
J Comparatively stock market is less risky than the other market and
generates more money for the economy
J One who have good knowledge in stock market, may survive in the
market and generates profits or good return whether the market is
down
<-
J nvestors should not invest on the basis of rumors they must observe
the market condition or trends ndian economy and than invest f they
wanna generate good return.
J nvestors should invest for a long term purpose. t should not be on the
basis of short term purpose.
J As a private investor, you can sometimes get on allocation of newly
issued shares but the issue will be confined to institutional invertors .
J A scrip issue is designed to improve marketability of ordinary shares ,
and does not diluteyour ownership.
J nvestor should invest on the basis of result of company. That how the
company is performing.
J nvestor should not invest in CF !Fgroup company . nvestor should
invest in A group company.
J nvestor should not invest in small cap company.
J When the market is rising very fastly . make sure that it is going on the
basis of fundamental . if it is not do not invest in stock market.
J nvestor should not invest on the basis of report.
J Stock market are run by the big investor like F%%IS F !%%IS F M&T&A"
F&)!S6
<>
J When the market is all time high , do not invest in stock market.
J When you are going to invest in stock market get a full information
about the company in which you want to invest .
J Stock market always affect by overseas market.

)i*liogra+hy
Text 2ooks
The Stock Market-The Stock Market - Rik W.Hafer, Scott E.
Hein, R. W.Hafer work package no. 6,7 & 8
=,
o nvestment Analysis and portfolio management-M
Raghunathan, Madhumati page no. 23,24,26,28,200,209

+ournals and maga0ines
o Capital market 23
rd
feb to 08 march page no. 16-19
o Business world, 11 may 2009 page no. 34-39
o Barometer-January 2008 By Alvino-Mario Fantini and Hugo
Restall
o JARN, Published Feb 2009
Business today
Business standard
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%20Redes/Cisco/Routers/7200-7500-7600/nse1_ds.pdf
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www.answers.com
http://www.allbusiness.com/north-america/united-states-illinois-metro-areas-
chicago/1067227-1.html
SME THER 1E. S%TES
www.answers.com
http://business.gov.in/business_financing/capital_market.php#
www.angeltrade.com
http://www.nseindia.com/marketinfo/companyinfo/online/boardmeetlist.
http://www.sebi.gov.in/ndex.jsp?contentDisp=Department&dep_id
www.shriraminsight.com
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KUESTIONNAIRE
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A00R-SS1
,7=TA,T =71
-&%AIL1
<:. /hat is yo#r occ#pation>
a? .#siness b? Pri"ate Ser"ice
c? 9o"t. ser"ice d? @o#se!ife
e? St#dent f? 7therAAAAAAAAAAAAAAAA
<;. /hat is yo#r ann#al income BRs.?>
a? Less than ;22222
b? ;22222 C )22222
c? )22222 C *22222
d? %ore than *22222
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<). /hat is yo#r ann#al sa"ing Bin Rs?>
a? Less than *2222
b? *2222 C :22222
c? %ore than :22222
<4. /here do yo# in"est>
a? .an$ b? %#t#al f#nd
c? Share mar$et d? Post office
e? 7therAAAAAAAAAAAAA
<*. /hat factors affect yo#r in"estment>
a? Ret#rn on In"estment b? Ris$
c? Li6#idity d? Safety
<D. 0o yo# in"est in share mar$et>
a? Ees b? =o
BIf yes then go to 2F other!ise go to 2G?
<F. Thro#gh !hich tool do yo# in"est>
a? Share b? IP7
=:
c? 0eri"ati"es d? otherAAAAAAAAAAAAA
<G. Are yo# ready to in"est in share mar$et if yo# get higher ret#rn>
a? Ees b? =o
<H. /hich medi#ms do yo# prefer to in"est yo#r sa"ing>
a? Indi"id#al Ad"isor
b? .an$ Ad"isor
c? .ro$er or Agency
d? 7therAAAAAAAAAAAAA
<:2. Are yo# satisfied !ith yo#r medi#m of in"estment>
a? Ees b? =o

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

Than$ yo#.
=;
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