This prestigious ceremony took place on June 21, 2024, and symbolizes the start of the trading day and draws attention to market activities.
It was an honor to be invited to ring The Opening Bell® at @NYSE this morning. This commemorates Infosys’ 25 years of being listed in the US. We thank all our clients, employees, investors, and other stakeholders who’ve contributed to our continued success. #NavigateYourNext pic.twitter.com/ovM5mdSpeS
— Infosys (@Infosys) June 21, 2024
The historic moment when for the very first time an Indian company was directly listed on a US securities exchange occurred when Infosys Technologies Ltd began trading on the Nasdaq under the symbol "INFY" in 1999. This marked a significant milestone, as until then, no Indian company had met the stringent conditions required for trading on a US stock exchange.
Infosys became the first Indian company to be listed on Nasdaq in 1999. Its shares were traded as American depositary receipts (ADRs) on the Nasdaq stock exchange, marking a historic milestone for Indian companies in the US market.
Infosys's chairman, NR Narayana Murthy, likened the event to Armstrong stepping on the moon, emphasizing that it was "a small step for Nasdaq but a giant leap for the Indian industry." The electric atmosphere at Infosys's Bangalore campus reflected the magnitude of this achievement, and history was made that day. Since then, several other Indian companies have followed suit, including HDFC Bank, ICICI Bank, Wipro, and Dr. Reddy's Laboratories, among others.
Being listed on Nasdaq reinforced Infosys' image as a cutting-edge technology company. Nasdaq is home to many tech giants including Microsoft, Apple, Amazon, Alphabet (Google) as well as Taiwan's semiconductor giant TSMC.
The New York Stock Exchange (NYSE) and the Nasdaq are two major stock exchanges in the world. Located in New York City, NYSE is the oldest American exchange and the largest equities-based exchange globally. It has a physical trading floor on Wall Street but also processes trades electronically from its data center in Mahwah, New Jersey.
While, Nasdaq Operates entirely electronically and doesn't have a physical trading floor. NYSE is an auction market where specialists (designated market makers) facilitate trades directly between buyers and sellers. Whereas, Nasdaq is a dealer market with many market makers competing. Participants transact trades through dealers. NYSE is home to companies across various industries, including financials, healthcare, energy, and industrials. Perceived as stable and well-established. While, Nasdaq is known for attracting technology and innovation companies (e.g., Apple, Google). Often associated with high-tech stocks.
In summary, while the NYSE emphasizes stability, the Nasdaq focuses on technology and electronic trading.
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