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Bombay Stock Exchange (BSE) will now Monitor Social Media to Stop Rumours

As we know, there are many sentiments, emotions, and fear in Stock Market. More often than not, few dishonest elements deploy these factors to bring in mock demand/ supply of particular stocks and merchandises which bring illegal profits for their companies.

Rumours and misrepresentation causes such ripples which can overcome the small-time investor and can collapse all his funds. Bombay Stock Exchange (BSE), India’s oldest and world’s fastest stock exchange has self-proclaimed the social media platform to plug false news and stop rumours. Now BSE is serious and targeting the very medium which breeds false stories and rumors.

BSE Holds Big Data to Kill Rumours

Using geometric modelling and big data analytics, BSE has hired a control mechanism which will monitor and track the news about all listed companies on social media. There are more than 5500 listed companies on Bombay Stock Exchange (BSE), every news items published and circulated either in offline or online would be now tracked, monitored and checked for reality.

Twitter Inc., the Online Social Networking Service Site Ties Up with BSE for Live Updates

Explaining about the mechanism, Bombay Stock Exchange said, “The primary objective of verification is that the tool will notice and moderate possible risks of market manipulation, rumor and reduce information irregularity stand up from it on digital media platforms including social media.”

BSE also said, “It will use and enhance advanced technologies innovations to track social media”

News has to be confirmed by Companies

According to the reports, BSE management has formed an internal inspection team, which will receive data from this control mechanism, powered by Big Data and statistical modeling. This team will check the news, and in a case of any difference. The concerned listed company will be opposed, and answers would demand.

The updated information, explanation, and reasons would be timely updated on the source of a news website and/ or the concerned company’s website so that investor can make an informed decision.

For More News Update: Techfactslive

Twitter Inc., the Online Social Networking Service Site Ties Up with BSE for Live Updates

Twitter, which enables users to post and read the short messages with a limit of 140 characters has tied up with BSE (Bombay stock Exchange). The latest developments will enable the stock market lovers to know the live sensex updates through their Twitter accounts. The Tweets will be very much helpful in the stock exchange business.

The services include Opening and closing sensex index figures, live updates and BSE sensex levels. This is termed as the first such collaboration in Asia between a social media and stock exchange.

BSE India Managing Director Mr. Ashish kumar Chauhan has stated that the effort will make the investors find exact situation in the stock market for the investors and business personnel.

Facebook, Twitter Joins Coalition to Tackle Fake News Stories 

On the other hand, Twitter India media partnerships official Mr.Viral Jani has stated that the agreement will make the investors to know the information and latest updates of BSE on their fingertips.

For this, Twitter has introduced four new features. Hourly tweets, auto responder tweets for Sensex 30 stock prices, auto direct messages for opening and closing figures of Sensex 30, and a live display photo that will refresh every 2 minutes to project the Sensex figures.

The live updates will be made available during the business hours of BSE i.e., between 9.00 A.M to 3.30 P.M every day. The tweets can be handled through @BSE India for sending the hourly tweets of stock prices of the company, levels and figures of sensex.

‘Facebook at Work’enterprise version of Facebook now in India

There is also a provision for the investors or businessman to subscribe for the details regarding opening and closing of the sensex figures. #subscribe #companyname or #unsubscribe #companyname to unsubscribe tweet will make this happen. @BSEIndia#designated company name will provide the company’s stock price via an auto-response.

In fact BSE is handling Twitter since 2012 but there is no real information regarding this amongst the investors.

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