New Delhi, 8 July (IANS). The Bombay Stock Exchange (BSE) will complete 150 years on Wednesday. Asia’s first stock exchange was established on 9 July 1875 near the Town Hall in South Mumbai. However, two decades before this, the journey of BSE started in 1855 when traders were found to buy and sell cotton under the banyan tree.
The number of traders increased at this place over time and due to the arrival of a large number of traders, the Native Share and Stock Brokers Association was established on July 9, 1875, which later became BSE.
The BSE was also founded three years before Japan’s present Tokyo Stock Exchange. For this reason, BSE is also called Asia’s oldest stock exchange.
The main founders of BSE also included Premchand Roychand, who was called the ‘Cotton King’ of Bombay.
According to reports, initially the number of members of the Native Share and Stock Brokers Association was 318. Its entry fee was one rupee.
According to reports, the current land for BSE was purchased in 1928, while the building started in 1930.
Then after independence, BSE was officially recognized in 1957 through the Securities Contract (Regulation) Act (SCRA).
The current BSE Building – PJ Towers was built in 1970.
The building was named after Feroz Jamshedji Jibhoy, former BSE chairman, who took over the BSE work from 1966 to 1980.
BSE launched India’s first stock index Sensex in 1986 with a base of 100.
The Sensex first touched the 1,000 mark in 1990. After this, for the first time in 1999, the 5,000 mark was crossed in 5,000 and 20,000 in 2007 and 80,000 in 2024.
Currently, BSE is one of the world’s big stock exchanges, on which more than 4,100 companies are listed and its market capitalization has exceeded Rs 461 lakh crore.
-IANS
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