In the stock market, a bellwether is a stock taken to be a leading indicator of the direction in a sector, an industry or the market as a whole. Bellwether stocks therefore serve as short term guides. JPMorgan Chase is an example of a bellwether stock. As one of the major banks in the United States, it sets the tone for the rest of the industry. JPMorgan Chase also has contracts with companies in other industries, so its performance is reflected in other sectors of the market. Tata Consultancy Services is similarly a bellwether for technology stocks in the Indian markets, BSE and NSE.