In your interest.
Online Personal Finance Magazine
No beating about the bush.
The oldest Asian bourse saw its market capitalisation surge 102% to $1.31 trillion in 2009 compared to 2008, pushing the country's premier exchange into the league of the top ten bourses across the world
The Bombay Stock Exchange (BSE) has emerged as one of the top ten bourses globally in terms of valuation of shares traded, with its market valuation nearly doubling to Rs60,79,892 crore ($1.31 trillion) last year, reports PTI.
The oldest Asian bourse saw its market capitalisation surge 93.3% in 2009 compared to 2008, in turn pushing the country's premier exchange into the league of the top ten global bourses, says a report by the World Federation of Exchanges (WFE).
The Paris-based WFE is a trade association of 52 publicly-regulated stocks, futures and options exchanges.
Reflecting the bullish investor sentiment despite the adverse global financial situation, the market capitalisation of the BSE surged to Rs60,79,892 crore ($1.31 trillion) last year from the paltry $647 billion in 2008. In dollar terms, the BSE valuation skyrocketed nearly 102% in 2009, while the rise was a tad less at 93.3% in rupee terms, according to WFE data.
The BSE benchmark 30-share index, the Sensex, rallied over 80% last year and closed at 17,464.81 points on December 2009. The key index had ended at a low of 9,647.31 points on December 2008.
Among the top ten bourses with the largest domestic equity market capitalisations at the end of 2009, the BSE is placed at the tenth spot, according to the WFE.
The league is topped by the NYSE Euronext of the US with a market capitalisation of $11.84 trillion and the Tokyo Stock Exchange Group ($3.31 trillion) at the second place.
The Nasdaq OMX ($3.24 trillion) and NYSE Euronext (Europe) with a market valuation of $2.87 trillion are at third and fourth spots, respectively. The London Stock Exchange ($2.79 trillion) is placed at the fifth slot.
Others in the top ten list are the Shanghai Stock Exchange ($2.71 trillion), Hong Kong Exchange ($2.31 trillion), TMX Group of Canada ($1.61 trillion) and the Brazilian BM&F BOVESPA with a market valuation of $1.34 trillion.
According to the WFE, the member-bourses in the Asia-Pacific region had a combined market capitalisation of $14.09 trillion in January this year. The figure is higher than the combined market valuation of the exchanges in Europe, Middle East and Africa regions which stood at $13.55 trillion in January.
At the end of 2009, the market capitalisation of all the companies listed on the WFE member-exchanges stood at $46.50 trillion.