Bombay Stock Exchange (BSE) was founded on 9th July 1875. It is the premier exchange of the country and accounts for more than one-third of the trading volume and can be compared to any international exchange. BSE is believed, serves as the true barometer of the financial health of the country.
BSE is the oldest stock exchange in Asia established in 1875. It is the first in the country to be granted permanent recognition under the Security Contract Regulation Act, 1956.
Bombay Stock Exchange was started by Premchand Roychand in 1875 which was known as the Native Share and Stock Broker’s Association.
Premchand Roychand was a leading cotton trader and he was instrumental in setting rules and regulations for stock trading.
The BSE is a 29 storey building also known as Phiroze Jeejeebhoy Towers located on Dalal street near Mumbai Samachar Marg. After reaching the Flora fountain one can easily view this tall building.
BSE has helped to grow the Indian corporate sector and develop capital markets of India including the retail debt.
First Old Venues of BSE
The first venues of the earliest stockbroker meetings in the 1850s were under Banyan trees in front of Town Hall. A decade later the brokers moved to another venue under Banyan Tree of Meadows street which is now Mahatma Gandhi road. They use to shift their venue from place to place as the number of brokers increased.
- At last in 1874, the brokers found the permanent place which is called Dalal Street. In 1875, BSE started with 318 members with a membership fee of Rs 1/-.
- In 2002, the name The Stock Exchange, Mumbai’ was changed to Bombay Stock Exchange.
- In 2005, the BSE turned into a corporate entity from an Association of Persons (AoP) and was renamed Bombay Stock Exchange Limited (BSE).
- This introduced securities trading in India, replaced its open outcry system of trading in 1995, with totally automated trading through the BSE Online Trading (BOLT) system. The BOLT network was expanded nationwide in 1997.
BSE Pioneer in Several Areas
BSE has adopted best practices and formulated a comprehensive set of Rules and Regulations for the securities market. It has several credits for making the country a trading hub and uplifting India’s securities market.
Below are the achievements of BSE:
- First in India to introduce Equity Derivatives
- First in India to launch a Free Float Index
- First in India to launch US$ version of BSE SENSEX
- First in India to launch Exchange Enabled Internet Trading System
- First in India to obtain ISO certification for the stock exchange
- BSE Online Trading System (BOLT) has been awarded globally
- First to have an exclusive or financial training
- Read more on milestones of BSE (on BSE website)
Investor Education
BSE conducts an investor awareness campaign through an electronic medium promoting the securities market of the Securities and Exchange Board of India (SEBI).
How to Reach:
- The nearest station to reach Churchgate railway station and CST.
- It is a walkable distance from Churchgate Station.
- From CST BEST Bus no. 1, 103, 69