Bombay Stock Exchange

Last updated

BSE Limited
BSE logo new.png
Logo of the Bombay Stock Exchange. [1]
BSE building at Dalal Street.JPG
Corporate headquarters on Dalal Street
Type Stock exchange
Location Mumbai, Maharashtra, India
Founded9 July 1875;148 years ago (9 July 1875) [2]
Key people
Currency Indian rupee ()
No. of listings5,309 [5]
Market cap 366 trillion (US$4.6 trillion) (January 2024) [6]
Indices
Website bseindia.com
Company
NSE:  BSE
ISIN INE118H01017
Headquarters
Mumbai   OOjs UI icon edit-ltr-progressive.svg
Website www.bseindia.com   OOjs UI icon edit-ltr-progressive.svg

BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange which is located on Dalal Street, known as the Wall Street of Mumbai, [8] in turn described as the New York of India. [9] Established in 1875 by cotton merchant Premchand Roychand, [10] it is the oldest stock exchange in Asia, [11] and also the tenth oldest in the world. [12] The BSE is the world's 8th largest stock exchange with a market capitalization exceeding US$4.5 trillion as of January 2024. [13]

Contents

History

Bombay Stock Exchange logo until June 2023 Bombay Stock Exchange logo.svg
Bombay Stock Exchange logo until June 2023

Bombay Stock Exchange was founded by Premchand Roychand in 1875. [14] While BSE Limited is now synonymous with Dalal Street, it was not always so. In the 1850s, five stock brokers gathered together under a Banyan tree in front of Mumbai Town Hall, where Horniman Circle is now situated. [15] A decade later, the brokers moved their location to under the 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 brokers group became an official organization known as "The Native Share & Stock Brokers Association" in 1875. [16]

On 12 March 1993, a car bomb exploded in the basement of the building during the 1993 Bombay bombings. [17] The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012. [18] BSE established India INX on 30 December 2016. India INX is the first international exchange of India. [19] BSE became the first stock exchange in the country to launch commodity derivatives contract in gold and silver in October 2018. [20]

BSE was demutualized and corporatized on 19 May 2007, pursuant to the BSE (Corporatization and Demutualization) Scheme, 2005 notified by SEBI. [21] [22] It was listed on NSE on 3 February 2017. [23] [24] [lower-alpha 1]

Market statistics

BSE Sensex Graph.png
BSE from 1990 to 2020 (Indices S&P BSE Sensex)
S&P BSE 500 (1999 to 2020).png
Indian stock market indices S&P BSE 500 (1999 to 2020)
S&P BSE SENSEX chart.svg
Chart of S&P BSE SENSEX monthly data from January 1991 to May 2013.
BSE Sensex.png
BSE Sensex from December 1979 to May 2012 (daily closings).

Criticism and controversies

A number of corruption scandals, including the 1992 Indian stock market scam and others, have rocked the Indian stock exchanges. [45] [46] At various times, numerous Indian corporate groups have been charged with stock manipulation. [47]

See also

Related Research Articles

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References

Notes

  1. SEBI Regulation 45(1) of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 prohibits self-listing of a stock exchange in India. [25]

Citations

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Further reading

18°55′47″N72°50′00″E / 18.9298°N 72.8334°E / 18.9298; 72.8334 (Bombay Stock Exchange)