Bombay Stock Exchange

The BSE, formerly known as the Bombay Stock Exchange Ltd. (Marathi: मुंबई रोखे बाजार), is an Indian stock exchange located at Dalal Street, Mumbai.

BSE
BSE
TypeStock exchange
LocationMumbai, India
Founded9 July 1877 (9 July 1877)
Key people
CurrencyIndian rupee (₹)
No. of listings5,439[2]
Market cap₹151,970.87 billion (US$2.1 trillion) (March 2019)[3]
IndicesBSE SENSEX
S&P BSE SmallCap
S&P BSE MidCap
S&P BSE LargeCap
BSE 500
Websitewww.bseindia.com

Established in 1875,[4] it is Asia's oldest stock exchange.[5] The BSE is the world's 10th largest stock exchange with an overall market capitalization of more than $2.2 trillion on as of April 2018.[2]

History

The Rocky stock exchange was founded by Premchand Roychand,[6] an influential businessman in the 19th-century Bombay. He made a fortune in the stockbroking business and came to be known as the Cotton King, the Bullion King or just the Big Bull. He was also the founder of the Native Share and Stock Brokers Association, an institution that is now known as the BSE.[7]

While BSE Ltd is now synonymous with Dalal Street, it was not always so. The first location of the earliest stock broker meetings in the 1850s was in a much more natural setting — under banyan trees — in front of the Town Hall, where Horniman Circle is now situated. A decade later, the brokers moved their location to another leafy setting, this time under banyan trees at the junction of Meadows Street and what was then called Esplanade Road, now Mahatma Gandhi Road. With a rapid increase in the number of brokers, they had to shift places repeatedly. At last, in 1874, the brokers found a permanent location, the one that they could call their own. The new place was, aptly, called Dalal Street (Brokers' Street).

The Bombay Stock Exchange is the oldest stock exchange in Asia.[8] Its history dates back to 1855, when 22 stockbrokers[9] would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times to accommodate an increasing number of brokers. The group eventually moved to Dalal Street in 1874 and became an official organization known as "The Native Share & Stock Brokers Association" in 1875.

On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. In 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area. In 1986, it developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange. In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform.

Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition. This automated, screen-based trading platform called BSE On-Line Trading (BOLT) had a capacity of 8 million orders per day. Now BSE has raised capital by issuing shares and as on 3 May 2017 the BSE share which is traded in NSE only closed with Rs.999 .[10]

The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.[11]

BSE established India INX on 30 December 2016. India INX is the first international exchange of India.[12]

BSE launches commodity derivatives contract in gold, silver.[13]

See also
  • Stock market crashes in India
  • Clause 49
  • National Stock Exchange of India
  • List of South Asian stock exchanges
  • List of stock exchanges in the Commonwealth of Nations
  • SAMCO Securities

References
  1. "bse bod".
  2. "Monthly Reports - World Federation of Exchanges". WFE.
  3. "BSE - Equity Market Capitalisation". Bombay Stock Exchange. Retrieved 27 July 2018.
  4. "BSE-Introduction". www.bseindia.com. Archived from the original on 31 January 2018. Retrieved 31 January 2018.
  5. Dr.Priya Rawal (16 April 2015). Indian Stock Market and Investors Strategy. Dr.Priya Rawal. pp. 12–. ISBN 978-1-5053-5668-7.
  6. Bhupta, Malini (21 August 2006). "Sushil Premchand: Keeping India's spirit of enterprise alive". India Today. Living Media. Retrieved 17 April 2019.
  7. Mishra, Ashish K. (23 May 2015). "Premchand Roychand: Mumbai's original share king".
  8. "BSE-Introduction". www.bseindia.com.
  9. Mishra, Ashish K. (23 May 2015). "Livemint: Business news, financial news, current affairs and analysis of stock markets and Indian economy". livemint.com/. Retrieved 17 June 2017.
  10. "BSEIndia". BSEIndia. Archived from the original on 22 January 2014. Retrieved 28 July 2010.
  11. "Bombay Stock Exchange (BSE) commits to promoting sustainability". UNCTAD. Retrieved 29 April 2016.
  12. "India INX". www.indiainx.com.
  13. "India thehindubusinessline". www.thehindubusinessline.com.

Stock exchange



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