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NSE upgrades infrastructure as volumes rise

NSE upgrades infrastructure as volumes rise
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First Published: Mon, Feb 08 2010. 11 01 PM IST

Taking stock: The National Stock Exchange building in Mumbai. The bourse is upgrading ahead of more competition.
Taking stock: The National Stock Exchange building in Mumbai. The bourse is upgrading ahead of more competition.
Updated: Mon, Feb 08 2010. 11 01 PM IST
Mumbai: The National Stock Exchange’s (NSE) upgraded system, tested during a special trading session over the weekend, will help the bourse cope with rising volume and competition, said India’s biggest brokerage by branch network.
“They are improving their infrastructure to the next level,” said Vinay Agrawal, executive director of equities broking at Angel Broking Ltd in Mumbai, ranked by Dun and Bradstreet as the brokerage with the biggest distribution network in India.
Taking stock: The National Stock Exchange building in Mumbai. The bourse is upgrading ahead of more competition.
Foreign fund flows into India’s stock market rose to $17.5 billion (Rs81,900 crore) in 2009, close to a record set two years ago, as the biggest rally in 18 years attracted foreign investors. NSE, the bigger of the country’s two main bourses, is also upgrading ahead of more competition.
MCX Stock Exchange Ltd is awaiting regulatory approval to begin trading.
NSE and the Bombay Stock Exchange (BSE) started trading 55 minutes earlier this year at 9am to attract derivatives traders in Singapore and Hong Kong.
Trading volume is expected to increase, driving the benchmark equity index, the Sensex, to rise as much as 30% this year as consumer spending in the country boosts company earnings, EM Capital Management Llc said last month.
Reserve Bank of India governor D. Subbarao said on 29 January that the nation’s economic growth could gain momentum over the next year. The government said on Monday that the economy would grow at 7.2% in the year ending March, faster than the year ago 6.7% on the back of strong industrial expansion.
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First Published: Mon, Feb 08 2010. 11 01 PM IST
More Topics: NSE | BSE | Bombay Stock Exchange | Sensex | MCX |