Mumbai, April 17 (IANS) The iconic journey of the Bombay Stock Exchange (BSE), which will complete 150 years in 2025, began humbly under a banyan tree in 1855.
In those early days, traders would gather under the tree in South Mumbai to buy and sell cotton. This informal trading laid the foundation for what would become Asia’s first stock exchange.
As the number of traders grew over time, the Native Share and Stock Brokers’ Association was formally established on July 9, 1875, which eventually became the BSE.
Interestingly, this happened three years before the Tokyo Stock Exchange was founded, making BSE the oldest stock exchange in Asia.
One of BSE’s key founders was Premchand Roychand, who was popularly known as the “Cotton King of Bombay”.
According to reports, the Native Share and Stock Brokers’ Association initially had 318 members, and the admission fee was just one rupee.
The land where BSE currently stands was purchased in 1928, and construction of the building began in 1930.
After India’s Independence, BSE received official recognition in 1957 under the Securities Contracts (Regulation) Act (SCRA).
The present BSE building — known as the Phiroze Jeejeebhoy Towers — was constructed in 1970. It was named after Phiroze Jamshedji Jeejeebhoy, who served as the chairman of BSE from 1966 to 1980.
In 1986, BSE launched India’s first stock index, the Sensex, with a base of 100.
Sensex crossed the 1,000 mark for the first time in 1990, 5,000 in 1999, 20,000 in 2007, and 80,000 in 2024.
As part of its 149th Foundation Day celebrations in 2023, the Bombay Stock Exchange (BSE) unveiled a new logo symbolising prosperity, vibrance, growth, and fresh beginnings.
The logo also reflects the exchange’s ongoing commitment to trust and its growing sense of responsibility.
The celebrations, held on July 10, 2023, at the BSE International Convention Hall, began with the traditional bell-ringing ceremony.
“On this special occasion, as a lead-up to our 150th Foundation Day, we are proud to present a new logo. It represents prosperity, vibrance, growth, and new beginnings, while also highlighting our continued trust and increased responsibility,” the BSE said in a statement on July 10, 2023.
Today, BSE is one of the largest stock exchanges in the world, with over 4,100 listed companies and a total market capitalisation of Rs 419 lakh crore.
–IANS
pk/pgh
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
