The Bombay Stock Exchange (BSE) is tying up with micro blogging site Twitter to provide updates of stock process, live updates of stock prices and opening and closing figures of companies to millions of investors. This would be Asia's first such collaboration between a stock exchange and a social media website.
Although the stock exchange has held a twitter account for the last four years, there was no option of providing real-time feed to its investors. A BSE spokesperson told the Economic Times that both â€” the stock market and Twitter -- have said the collaboration is a move to make financial information easily accessible to millions of investors through a digital format.
"We believe this association will also aid in fulfilling the mission of digital India," Ashish Kumar Chauhan, managing director at the BSE, was quoted as saying by the publication.
In addition, Chauhan also hopes that the investors and businessmen will find the real-time information through Twitter useful.
In a bid to help the investors follow the market thoroughly, Twitter has activated four new features such as: hourly tweets, auto-responding tweets for Sensex 30 stock prices, auto-direct messages for the opening/closing figures and live display, ET added.
"We are thrilled to pioneer this initiative to make crucial information accessible at your fingertips in the fast paced world," Viral Jain, who looks after media partnerships for Twitter India, was quoted as saying by the publication.
Hence, during the trading hours (9 am to 3:30 pm), the Bombay Stock Exchange will send hourly tweets of the Sensex figures through its twitter handle @BSEIndia. It will also tweet the companies' stock prices.