...Stock Market Deliverabl Stock Market Deliverabl Stock Market According dictionary.com, the stock market can be defined as “a highly organized market facilitating the purchase and sale of securities and operated by professional stockbrokers and market makers according to fixed rules”. This market is it is one of the most vital areas of a market economy as it provides companies with access to capital and investors with a slice of ownership in the company and the potential of gains based on the company's future performance. Buyers and sellers come together to trade during specific hours on business days. Exchanges impose rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange, it is referred to as "listed". Companies that are not listed on a stock exchange are sold OTC (short for Over-The-Counter). Companies that have shares traded OTC are usually smaller and riskier because they do not meet the requirements to be listed on a stock exchange. Stock Market Evaluation There are three major indexes to evaluate the overall performance of the stock market. These indices are discussed in more detail below: The Dow Jones The Dow Jones Industrial Average (DJI) is one of the oldest, most well-known and most frequently used indexes in the world. It includes the stocks of 30 of the world's largest and most influential companies. The DJI is what's known as a price weighted index. It was originally computed...
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...中国证券行业分析报告 (2009 年 2 季度) 出版日期:2009 年 08 月 WWW.CEI.GOV.CN 编写说明 上半年,在经济复苏的乐观预期及充裕的流动性推动下,A 股市场走出了一波 大幅上涨的行情。 上证综合指数从 3 月底的 2373.21 点上涨至 6 月底的 2959.36 点, 深证成份指数从 8981.95 点上涨至 11566.61 点,上证综合和深证成份指数累计涨 幅分别达到 24.69%和 28.77%。 股票市场持续上涨带来的赚钱效应刺激新增开户数 以及基金募集额逐月攀升。 2009 年二季度,在股指加速上扬的推动下,大比例增仓成为基金的共识,从 整体数据来看,积极投资偏股型基金二季度仓位为 84.07%,与一季度相比大幅提 升了 8.4%。其中股票型基金的整体仓位已经达到 86.78%,与上季度相比提高了 7.61%,且已经超过 07 年三季度市场最高点时股票型基金 83.87%的仓位;混合型 基金整体仓位也达到接近 80%的较高水平, 与上季度相比提高了 9.57%; 封闭式基 金受仓位限制与开放式基金相比略低,为 75.92%。 中国经济信息网 www.cei.gov.cn 今年二季度债券市场共发行了 285 期(只)新债,发行金额合计为 23422.93 亿元,较一季度的 166 期(只)和 10730.8 亿元分别大增 119 期和 12692 亿元。分 类别来看,国债发行量暴增成为二季度债市扩容的主要源头之一。二季度财政部 共发行国债 25 期,总额 5469 亿元;代发地方债 36 期,金额 1629 亿元;二者合 计发行总额为 7098 亿元,比一季度的 1079 亿元暴增 6019 亿元,占新增额近二分 之一。央票发行量依然是排名第一,二季度发行 9250 亿元,较一季度的 4800 亿 2631 元增加近一倍。 其他券种中, 中期票据、 金融债、 企业债分别发行 2696 亿元、 亿元和 1175 亿元,较一季度分别增加 1025 亿元、1038 亿元和 513 亿元。 版权:中经网数据有限公司 TEL: (010)6855 7150 I FAX: (010)6855 8555 中国行业分析报告――证券行业 目 Ⅰ 录 二季度股票市场运行状况...........................................1 一、市场走势 ...................................................... 1 二、板块表现 ...................................................... 4 三、上市公司证券投资状况 .......................................... 5 四、IPO状况 ....................................................... 6 (一)海外上市 .................................................... 6 (二)境内A股 ..................................................... 7 (三)VC/PE支持 ................................................... 7 五、上市公司 ......
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...In this paper we will make the stock market analysis and commentary on the quotations of the Commercial Bank for the years 2007 and 2008 based on its prices in the Athens Stock Exchange. SECTION I PERFORMANCE AND AVERAGE YIELD The performance of a share is equal to the percentage difference between the initial and final property owner. The average yield value is calculated as the sum of the yield of a share to the number of returns. As far as the Commercial Bank is concerned, the average stock performance for the year 2007 was 0.28% and 2.24% for 2008. Based on the values of the general price index, the average yield for 2007 was 0.26% for 2008 and 1.95%. We observe that for the year 2007 by comparing the average yield to the corresponding share of the overall index the first appears in negative contrast to the second which is positive. By contrast, for the year 2008 there is identification -signs are in both negative- and price performances are quite close. Yields will then help us to calculate the beta value and to draw conclusions from them. VARIANCE The variance of a variable measures the volatility of the element. To calculate the variance four steps are required: • Calculation of average performance • Calculation of deviation from the mean square performance • Calculate the square of performance • Calculate the sum of the squares of the deviation and dividing by the number of observations. Regarding the variation in yields: • The variance of...
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...Finance & Banking, vol.1, no.3, 2011, 125-138 ISSN: 1792-6580 (print version), 1792-6599 (online) International Scientific Press, 2011 Stock Market Analysis in Practice: Is It Technical or Fundamental? Gil Cohen1, Andrey Kudryavtsev2 and Shlomit Hon-Snir3 Abstract Investors use varies tools in the investment process. Some use technical or fundamental analysis, or both in that process. The aim of the following survey research is first, to examine differences between professional portfolio managers to amateur investors in their approach towards technical and fundamental analysis. Second, we want to study the difference of use of fundamental and technical tools in the buying versus selling stocks. We used online survey in one of the leading business portals in addition to asking professional investors in a leading investment house in Israel. Our results show no significant difference between professional and non-professional investors in terms of how frequently they use fundamental and technical investment tools. Both groups of investors use more frequently fundamental tools than technical when they make buy/sell decisions. We also found that non-professional investors use more fundamental tools such as "analysts' recommendations" when they buy stocks and more technical tools such as "support and resistance lines" when they sell stocks. Moreover, our study Economics and Management Department, The Max Stern Academic...
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...Department of Finance and Banking Jahangirnagar University Savar, Dhaka FNB209: Financial Institutions and Markets | Executive Summary Submission of the Report on : Efficiency Analysis and Volatility Effect of Bangladesh Stock Market Submitted by:Sariful Islam(Student ID: 610)Ashfaq-ul- haq oni(Student ID: 621)Jafrin Siddique (Student ID: 1922)Zunaid Hossain (Student ID: 1928)K. M. Zeman Adnan (Student ID: 2128)William Masterson Shah (Student ID: 2129) | Submitted to:Dr. Sheikh Abu TaherLecturer,Department of Finance & BankingJahangirnagar University | August 2, 2012 Term Paper Topic: Efficiency Analysis and Volatility Effect of Bangladesh Stock Market Executive Summary: This paper empirically examines the behavior of stock returns in the Bangladesh stock market namely Dhaka Stock Exchange (DSE), the efficiency of the market in pricing securities and the relationship between stock returns and conditional volatility and the impact of some institution factors such as lock-in, circuit breaker, and caretaker government on volatility, using best known three different daily price indices DSEG, DSI and DS20. The results of autocorrelation function, results of ADF and PP tests and also the results of ARIMA models do not support the hypothesis of weak-form of market efficient of DSE. The results of GARCH (p, q)-M models indicate significant departure from the hypothesis of weak form efficiency; the tendency for returns to exhibit volatility clustering;...
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...to the Stock Market Supply and demand is one of the most important influences in any economic marketplace. In most industries the law of supply and demand is an accepted theory to explain the price of products and services. One industry that overlooked the significance of the law of supply and demand in the past is the stock market. Experts attributed the Stock Bubble of the 1990s to an overly simple theory. It was believed that rising prices in stocks were caused by an underlying rise of companies’ value. The price of stocks in the 1990s is today better understood as derived from a shortage of equities in the market (Oswin, 2005). The law of supply and demand is a fundamental concept in economics that explains market factors such as the quantity of a product or service demanded by consumers, the supply of products or services that suppliers are willing to produce and the relationship between supply and demand to create market equilibrium. The law of supply and demand also tries to explain what conditions in the market create changes in quantity demand and supplied in the market (Colander, 2008). In his essay, The Relative shortage of Equities, Oswin (2005) describes some of the conditions that affect stock market activity and explains the theories behind the demand and supply of equities, which drive the prices of the market. According to Oswin (2005), the law of supply and demand is the cause behind bear and bull markets. Investors use the term bear market to describe...
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...organization with respect to speed of execution and accuracy. In an stock exchange situation where efficiency is paramount, this is measured by factors such the numbers of orders lost and/or filled incorrectly. And importantly the time elapsed between receiving an order and its execution. People involved in this field are very aware of this and attempt to streamline their operation to mitigate errors and to achieve operational efficiency. But EMH has nothing to do with this type of efficiency. Informational Efficiency refers to how quickly and accurately current security prices reflect all available information. All sort of information – economic reports, earnings forecasts, political announcements, opinions – is constantly enters the market. What affect does this have on security prices? And what does it mean? For example, unemployment is rising; is it good or bad for government securities holder. Or a company’s new about its merging with another! There are several of these questions and they have impact on some security or other. The question is how quickly they impact security prices. We know that in the US market (so far without the government regulation) security prices adjust rapidly and accurately to information and often without time to digest it. Often the speed with which the prices adjust is simply remarkable. The efficient market hypothesis is based on certain assumptions which in turn our market efficient. First it assumes that there are a large numbers of participants...
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...III – Master in Financial Analysis Shanghai Stock Exchange Financial Market Report Guidance: Mikel Tapia Miguel Teixeira Pinto Navkaran Bakshi 1 Universidad Carlos III – Master in Financial Analysis Introduction Regarding the subject Financial Markets, we will analyze the Chinese Stock Market and understand how it works. In that sense, with the support of Professor Mikel Tapia, we will study the type of Market that we are leading with, which type of brokers belong to this Market and all the other rules that we think that are relevant to the Shanghai Stock Exchange and to the Investors that work with this Market. So, first and to contextualize, we will start with an explanation of the Stock market with some relevant historical information. In this brief introduction, we will approach the information related with the creation of the Market and the modifications that it suffered during the years. After this deep analyze, we will pass to the descriptive analyze where we will try to explain and understand how the Market is Operating. 2 Universidad Carlos III – Master in Financial Analysis Market History The Shanghai Stock Exchange is based in the city of Shanghai, China. It was inaugurated in November 1990 and is wholly state-owned with a Market Capitalization of $2.3 trillion making it the World’s 6th largest stock Market. It is one of the two Stock Exchanges operating in China (Shanghai Stock Exchange and the Shenzhen Stock Exchange), although they...
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...investment in stocks, he must ensure that such stock is the type that is capable of satisfying his investment objectives. These objectives which vary from one investor to another include:- i) security (safety of capital invested) ii) adequate return on investment by way of dividends iii) growth prospects/capital appreciation iv) spread of risks, etc. The exercise of security analysis is based on the general assumption that the intrinsic value of a company can be discovered by an assembly and analysis of financial information relating to its operations. This then forms the basis on which the investor could evaluate each stock in the market and determine the extent to which it satisfies his specific objectives before deciding whether or not to invest. 2. STATEMENT OF THE PROBLEM A decision to invest in stocks, like any other investment decision, has a direct impact on the investor’s networth. The main issue which this study focuses on is to examine how prudently an investor can select securities based on conventional objective criteria so as to improve his networth. Consequently, some relevant research questions that direct the study include:- - determining the profitability of the companies whose studies are being offered to the investor and likelihood of maintaining or improving upon such performance. - determining how well the stocks perform in earnings or income vis-a-avis other stocks/companies...
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...Using Neural Networks to Forecast Stock Market Prices Abstract This paper is a survey on the application of neural networks in forecasting stock market prices. With their ability to discover patterns in nonlinear and chaotic systems, neural networks offer the ability to predict market directions more accurately than current techniques. Common market analysis techniques such as technical analysis, fundamental analysis, and regression are discussed and compared with neural network performance. Also, the Efficient Market Hypothesis (EMH) is presented and contrasted with chaos theory and neural networks. This paper refutes the EMH based on previous neural network work. Finally, future directions for applying neural networks to the financial markets are discussed. 1 Introduction From the beginning of time it has been man’s common goal to make his life easier. The prevailing notion in society is that wealth brings comfort and luxury, so it is not surprising that there has been so much work done on ways to predict the markets. Various technical, fundamental, and statistical indicators have been proposed and used with varying results. However, no one technique or combination of techniques has been successful enough to consistently "beat the market". With the development of neural networks, researchers and investors are hoping that the market mysteries can be unraveled. This paper is a survey of current market forecasting techniques with an emphasis on why they are insufficient...
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...Companies for Detailed Analysis This article is a part of the series of articles "Selecting Top Stocks to Buy". In the first article of this series (Getting right perspective towards Investing), we discussed about getting the right perspective towards stock investing and the requisite qualities for becoming a successful investor. In the second article of this series(Choosing the Stock Picking Approach suitable to you), we learned about different stock picking approaches available to an investor and the guidelines for selecting the stock picking approach suitable to her. The current article in this series, aims to highlight the necessity of shortlisting a few companies for detailed analysis, out of the thousands of companies available to an investor. We would also learn about various tools, which an investor can use for shortlisting these companies. As per Bombay Stock Exchange website, at September 14, 2014, there are 5,471 stocks available for investing. Each of these stocks represents a company running a unique business. Business of each of these companies is different from all the other companies whether they are from the same or different industries. For example, a pharmaceutical company will have a business entirely different from a telecom company. Moreover, within the pharmaceutical companies, a company selling its products in Indian market will have a very different business from another company, which sells its products in overseas markets. Among pharmaceutical...
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...financial statements of a company are: 1. Liquidity Ratios 2. Leverage Ratios 3. Turnover Ratio 4. Profitability Ratio 5. Valuation Ratio Let us consider the Profit and Loss A/c and Balance Sheet of OM Enterprises Limited to illustrate the calculation of these ratios Profit and Loss Account of OM Enterprises Limited for the year ending on March 31, 2006 |PARTICULARS |AMOUNT (Millions) |AMOUNT (Millions) | |Net Sales | |350 | |Cost of goods sold | |245 | |i) Stock |175 | | |ii) Wages and salaries |30 | | |iii)Other manufacturing expenses |40 | | |Grofit profit | |105 | |Operating Expenses | |60 | |Depreciation |25 | | |General Administration ...
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...“Technical Analysis of Selected Stocks with reference to Kotak Securities” Ltd, Mysore. By, SHARATH KUMAR M 4GW13MBA45 Submitted to VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELGAUM In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Under the Guidance of INTERNAL GUIDE EXTERNAL GUIDE Ms. USHA B Assistant Professor GSSS Centre for PG Studies & Research Mysore Mr. Anil Kumar Branch manager Kotak Securites ltd, Mysore GSSS CENTRE FOR PG STUDIES & RESEARCH Department of Management KRS ROAD, MYSORE - 570016 2013-2015 ACKNOWLEDGEMENTS A Project study of this nature calls for professional help and guidance from all quarters....
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...fundamental and technical analysis will give better result than just using one of them as an analysis method. Upon answering the research question, researchers went through a deductive cross-sectional study by surveying companies in the Indonesia stock exchange to explain the effect of using both technical and fundamental analysis to analyze the price fluctuation of stocks. The data collection method is quantitative data collection by taking the sample of 5 companies from 5 different sector industries and then analyze the data gathered using the proposed analyzing technique: technical and fundamental analysis method. Keywords : Technical analysis, Fundamental analysis, Stock price I. Introduction Like any other countries around the world, Indonesia has a financial market that consists of several investment choices available for public, such as: Stocks, Bonds, Foreign Exchange, Futures, etc. Those investment choices have different level of liquidity, risk and return profile. Stocks are one of the basic types of investment based on the corporate venture. Moreover stocks are popular for Indonesian investors and traders because it gives more return compared to bank savings or corporate bonds. There are two ways to analyze the price movement of stocks in a certain amount of time which more known as technical and fundamental analysis. There are some traders who are just using one of them in trading the stocks, and some using both of them. In his book, Stock Investing Wisdom, Desmond...
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...Capital market in Bangladesh: Concept and formation Capital market is a mechanism to flow fund from the hands of small savers (individuals and institutions) at low costs to those entrepreneurs who do need fund to start business or to business. In the other words, capital market mechanism gives a part ownership of big companies/corporations to small savers like you and me. In simple term, it is a globally accepted scheme to share ownership of economic development with general public. History of capital market: Capital market started in USA at Wall Street in 1653. 1t came to Mumbai, the commercial capital of India around 1890. However, investment in shares boomed in late 1970s. It took many years to come to the land, now comprising Bangladesh. The origin of stock market in Bangladesh goes back to April 28, 1954 when a stock exchange was formed under the name East Pakistan Stock Exchange Association at Narayanganj. Trading started in 1956. It was renamed East Pakistan Stock Exchange Ltd. Transferred to Dhaka in 1958 and again renamed Dhaka Stock Exchange Ltd in 1964. Trading remained suspended during the Liberation War in 1971. The Dhaka Stock Exchange resumed operation in 1976 with nine listed companies as against 452 today. Capital market in Bangladesh got momentum with the establishment of Securities and Exchange Commission in 1994. A big wing was added to the capital market with the incorporation of Chittagong Stock Exchange on April 1, 1995. Operation of CSE started on...
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