Two teams of students from Mumbai and one team from Navi Mumbai participate in global trading contest; enter top 100 for the first time
The NMIMS team ranked 40th globally and 15th in Asia at the Bloomberg Global Trading. Pic/Special Arrangement
While learning finance from textbooks is one way to go about things, a group of Mumbai students tried walking the talk. Two student groups from Mumbai and one from Navi Mumbai entered a global contest in which they trade on a simulated stock exchange. The Bloomberg Global Trading contest allowed students to act as wealth managers, functioning according to the timings of the New York Stock Exchange. With a corpus set at $1 million, their goal was to grow their wealth.
Ranking 40th globally, and 15th in Asia, one of the Mumbai teams from NMIMS managed to make a profit of $72,000 above their corpus, bringing the university in the top 100 ranks in a first. The students were required to analyse different stocks and make their position in the market over six weeks.
“We usually think long term when it comes to wealth management. Working on a short time span really helped us understand the nitty-gritties of the market. We took more risks and saw how well they panned out in the short term,” said Vishal Jagwani, 20, a student with the Sarla Anil Modi School of Economics, who was on the top-40 team from NMIMS.
“I think I am less scared after this exercise. Whether I’m studying, trading, or simply playing a sport, I am less afraid of failing,” said 18-year-old Aarav Thosani, who is in his first year of BSc Finance at NMIMS Navi Mumbai.
$72K
Profit the students made in a six-week trading period
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