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Nasdaq turnover rises 85 per cent in 2000 

Our Markets Bureau  
Mumbai, Jan 28 : The US-based Nasdaq stock market has recorded a 85.2 per cent jump in turnover on the bourse. The turnover has exceeded from $11 trillion in 1999 to $20.4 trillion in 2000. The volume of shares traded went up by 62 per cent from 272.6 billion (bn) shares in 1999 to 442.7 bn shares in 2000.

The average daily share volume reached 1.75 bn in 2000, compared to 1.08 bn in 1999. The Nasdaq Composite Index closed at 2470.52 - a decline of 39.29 per cent from the end of 1999. Over the past five year the Composite's average annual increase was 26.05 per cent, according to a Nasdaq release here. The market value (market capitalisation) of around 4800 companies listed on Nasdaq went down by 31 per cent at the end of 2000 to $3.6 trillion.

Apart from the Nasdaq Composite Index, the other sectoral indices which declined include industrial (33.76%), other finance (27.91%), telecommunications (54.36%), and computer (44.31%). At the Nasdaq national market, the volume leaders from January-December 2000, were Cisco Systems, Intel Corporation, Oracle Corporation, Sun Microsystems and Microsoft Corporation, while the leaders in terms of turnover were Cisco Systems, Microsoft Corporation, Intel Corporation, Oracle Corporation and Sun Microsystems.

Nasdaq stock market had recorded a growth in international listings. There were 119 non-US companies listed on Nasdaq in 2000.The exchange had modified the Nasdaq order display window, popularly known as SuperMontage. By incorporating SuperMontage the exchange would redesign the aggregate size of the best bid/best offer of each security on Nasdaq and the aggregate size at one and two price levels. This new feature would give the investor more information about potential traded and give the seller more choice in presenting potential trades to the market. SuperMontage would make the Nasdaq workstation screen easier to read, show investors more information and attract more liquidity to the Nasdaq market. It integrates the current auto-execution and order delivery systems into a single "pipeline", ensuring efficient routing of orders and executions and eliminating possible dual liability, the exchange said.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

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