BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange located on Dalal Street in Mumbai (Bombay). Established in 1875,[5] it is the oldest stock exchange in South Asia,[6] and also the tenth oldest in the world.[7] The BSE is the 9th largest stock exchange with an overall market capitalization of more than ₹2,18,730 billion on as of May 2021.[3]
Bombay Stock Exchange was started by Premchand Roychand in 1875.[citation needed] While BSE Limited is now synonymous with Dalal Street, it was not always so. In the 1850s, five stock brokers gathered together under Banyan tree in front of Mumbai Town Hall, where Horniman Circle is now situated.[8] 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 brokers group became an official organization known as "The Native Share & Stock Brokers Association" in 1875.[9]
The Bombay Stock Exchange continued to operate out of a building near the Town Hall until 1928. The present site near Horniman Circle was acquired by the exchange in 1928, and a building was constructed and occupied in 1930. The street on which the site is located came to be called Dalal Street in Hindi (meaning "Broker Street") due to the location of the exchange.
On 31 August 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. Construction of the present building, the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area, began in the late 1970s and was completed and occupied by the BSE in 1980. Initially named the BSE Towers, the name of the building was changed soon after occupation, in memory of Sir Phiroze Jamshedji Jeejeebhoy, chairman of the BSE since 1966, following his death.
In 1986, the BSE 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 ₹999.[10]
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]
Bombay Stock Exchange from 1999 to 2020 (Indices S&P BSE 500)
Technologies[]
BSE is Asia's first and the Fastest Stock Exchange in world with the speed of 6 micro seconds and one of India's leading exchange groups. In 2013, BSE upgraded its technology platform to Bolt Plus, which is based on the business architecture of global giant Deutsche Börse.[14]
India topics
