Bombay Stock Exchange has tied-up with Twitter, a social media networking site, to provide live stock updates to Twitter users. This is a first of its kind partnership in Asia between a social media company and a stock exchange.
The information, which was available mostly on news channels on television or on news articles on the internet, will now be available to users at regular intervals. BSE has its own twitter account but stock updates were not available to investors.
Ashishkumar Chauhan, Managing Director at BSE India, said he hopes investors and businessmen will find accurate and real-time information disseminated through Twitter useful with this partnership, “We believe this association will also aid in fulfilling the mission of digital India.”
BSE’s twitter handle will now start giving out information on a regular basis, separate from its regular news tweets. BSE Currency information will be provided every 30 mins, Sensex 30 stock prices will be provided every 60 mins, 30 mins and 15 mins respectively. Corporate announcements, if any, will be made every 5 mins!
Here is the information various BSE Twitter handles will give out:
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The information will be tweeted to investors only during trading hours, that is between 9 AM and 3:30 PM. So if an investor wants to follow the Sensex every 30 mins, he/she must subscribe to BSE_30 twitter handle.
While this may not help day traders or very active stock investors – it will definitely help an average long term investor to stay in touch with ups and downs of the market . This initiative is also a step ahead in ‘Digital India’ as BSE relays information on Twitter to all investors.
Also, corporate announcements are something that most do not follow actively – so this new initiative by BSE and twitter will help investors stay in touch with announcements made by various companies.
What we would have liked
I think BSE should have also given on-demand information – meaning anyone could tweet in a particular pre-decided format to BSE handle and could have got the latest prices of requested stock etc. Hopefully, this feature should follow soon!
If you’re an investor and want to keep track of stock prices through Twitter itself, follow BSE’s Twitter handle and get regular updates at recurring intervals. The good thing is that BSE is able to compress important information within Twitter’s 140 character limit!