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Bombay Stock Exchange

Summary

BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman,[6] it is the oldest stock exchange in Asia,[7] and also the tenth oldest in the world.[8] The BSE is the 6th largest stock exchange with an overall market capitalisation in the world with more than ₹276.713 Lakh Crore or $3.56 Trillion USD, as of January 2022.[4]

BSE Ltd.
Bombay Stock Exchange logo.svg
BSE building at Dalal Street.JPG
The corporate headquarters of BSE on Dalal Street.
TypeStock exchange
LocationMumbai, India
Founded9 July 1875; 147 years ago (9 July 1875)[1]
Key people
CurrencyIndian rupee (₹)
No. of listings5,439[4]
Market cap₹276.713 lakh crore (US$3.5 trillion) (Jan 2022)[5]
IndicesBSE SENSEX
S&P BSE SmallCap
S&P BSE MidCap
S&P BSE LargeCap
BSE 500
Websitebseindia.com
Company
NSE: BSE
ISININE118H01017
Headquarters
Mumbai Edit this on Wikidata
Websitewww.bseindia.com Edit this on Wikidata

There are 7,400 companies are listed of which 4000 are traded on the stock exchanges at BSE and NSE. Hence the stocks trading at the BSE and NSE account for around 10% of the Indian economy, which derives most of its income-related activity from the unorganized sector and household spending.[9] A number of corruption scandals, including the 1992 Indian stock market scam and others, have rocked the Indian stock exchanges.[10][11][12][13][14][15][16] At various times, numerous Indian corporate groups have been charged with stock manipulation.[17][18][19][20][21][22][23][24]

The Economic Times estimates that as of April 2018, 6 crore (60 million) retail investors had invested their savings in stocks in India, either through direct purchases of equities or through mutual funds.[25] Earlier, the Bimal Jalan Committee report estimated that barely 3% of India's population invested in the stock market, as compared to 27% in the United States and 10% in China.[26][27][28][29]

HistoryEdit

Bombay Stock Exchange was started by Premchand Roychand in 1875.[30] 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.[31] 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.[32]

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.

On 12 March 1993, a car bomb exploded in the basement of the building during the 1993 Bombay bombings.[33]

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.

The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.[34]

BSE established India INX on 30 December 2016. India INX is the first international exchange of India.[35]

BSE became the first stock exchange in the country to launch commodity derivatives contract in gold and silver in October 2018.[36]

Demutualization and listingEdit

BSE was demutualized and corporatized on 19 May 2007, pursuant to the BSE (Corporatization and Demutualization) Scheme, 2005 notified by SEBI.[37][38]

It was listed on NSE on 3 February 2017.[39][40][a]

 
Bombay Stock Exchange from 1999 to 2020 (Indices S&P BSE 500)

See alsoEdit

ReferencesEdit

NotesEdit

  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.[41]

CitationsEdit

  1. ^ India, BSE. "Corporate profile" (PDF). Archived (PDF) from the original on 25 September 2021. Retrieved 8 August 2020.
  2. ^ "bse bod". Archived from the original on 11 January 2023. Retrieved 2 July 2019.
  3. ^ "bse bod". Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  4. ^ a b "Monthly Reports - World Federation of Exchanges". WFE. Archived from the original on 11 January 2023. Retrieved 21 May 2018.
  5. ^ "BSE (formerly Bombay Stock Exchange) - LIVE stock/share market updates from Asia's premier stock exchange. Get all the current stock/share market news; real-time information to investors on S&P BSE SENSEX, stock quotes, indices, derivatives and corporate announcements". www.bseindia.com. Archived from the original on 5 September 2021. Retrieved 6 September 2021.
  6. ^ "BSE-Introduction". bseindia.com. Archived from the original on 31 January 2018. Retrieved 31 January 2018.
  7. ^ Dr.Priya Rawal (16 April 2015). Indian Stock Market and Investors Strategy. Dr.Priya Rawal. pp. 12–. ISBN 978-1-5053-5668-7. Archived from the original on 11 January 2023. Retrieved 23 November 2018.
  8. ^ "10 Oldest Stock Exchanges in the World". 10 September 2020. Archived from the original on 4 March 2021.
  9. ^ "National economic debate – Stock markets or rigged casinos – talk by Professor Dr. R. Vaidyanathan (IIM Bangalore) – 21 Jan 2011, Mumbai". National Economic Debates. Archived from the original on 15 November 2015. Retrieved 1 November 2016.
  10. ^ "How India's trading queen and mystery guru engulfed NSE in scandal". The Economic Times. Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  11. ^ Rangan, MC Govardhana. "The fall of NSE: Corruption or hubris?". The Economic Times. Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  12. ^ "BSE Sensex drops as corruption scandal weighs". Reuters. 25 November 2010. Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  13. ^ "SEBI penalises BSE, NSE for 'laxity' in Karvy fraud case". 13 April 2022. Archived from the original on 21 September 2022. Retrieved 11 January 2023.
  14. ^ "Trading 'queen' and mystery guru: Strange tale engulfs NSE in scandal". Business Standard India. 21 March 2022. Archived from the original on 21 September 2022. Retrieved 11 January 2023.
  15. ^ ""Who'll Invest in India if Scams Like This Happen?": Judge in NSE Case". Archived from the original on 22 September 2022. Retrieved 11 January 2023.
  16. ^ "Chitra Ramkrishna arrested; CBI grills former NSE CEO in co-location scam after SEBI's mysterious yogi report". Archived from the original on 22 September 2022. Retrieved 11 January 2023.
  17. ^ https://thewire.in/business/reliance-fined-rs-1000-crore-trading-reliance-petroleum-shares
  18. ^ https://www.reuters.com/world/india/indias-reliance-industries-chairman-fined-over-share-trades-2021-01-01/#:~:text=MUMBAI%2C%20Jan%201%20(Reuters),in%20a%20subsidiary%20in%202007.
  19. ^ https://www.bloomberg.com/news/articles/2017-03-27/reliance-industries-falls-after-manipulation-charge-trading-ban
  20. ^ https://www.bloomberg.com/news/articles/2023-01-25/adani-group-stocks-drop-after-hindenburg-takes-short-position?leadSource=uverify%20wall
  21. ^ https://www.abc.net.au/news/2023-01-26/gautam-adani-net-worth-drops-after-allegations/101896746
  22. ^ https://indianexpress.com/article/explained/explained-economics/what-is-hindenburg-research-accused-adani-fraud-8404531/
  23. ^ https://www.cnbc.com/2023/01/27/adani-shares-drop-further-as-group-warns-of-legal-action.html
  24. ^ https://www.forbes.com/sites/siladityaray/2023/01/26/adani-group-evaluating-legal-action-against-hindenburg-after-listed-shares-take-major-hit/?sh=781e28fa3741
  25. ^ Thukral, Arun (24 April 2018). "For those who do not make much money in stocks, here's the catch". The Economic Times. Archived from the original on 24 April 2018. Retrieved 24 April 2018.
  26. ^ "Increasing retail investor base: SEBI has a tough job ahead". Moneylife. 2 June 2011. Archived from the original on 24 April 2018. Retrieved 24 April 2018.
  27. ^ Jalan, Bimal (1 November 2010). Jalan Committee report 2010 – Review of Ownership andGovernance of Market Infrastructure Institutions (PDF). Mumbai: SEBI. Archived (PDF) from the original on 9 February 2019. Retrieved 24 April 2018.
  28. ^ Chandrasekhar, C.P.; Mallick, Sarat; A, Akriti. The elusive retail investor: How deep can (and should) India's stock markets be? (PDF). SEBI. Archived (PDF) from the original on 19 September 2017. Retrieved 24 April 2018.
  29. ^ Library of Congress, Federal Research Division (30 December 2011). FINANCIAL LITERACY AMONG RETAIL INVESTORS IN THE UNITED STATES (PDF). Washington DC: SEC / The library of congress. Archived (PDF) from the original on 24 April 2018. Retrieved 24 April 2018.
  30. ^ "BSE may set another record, become an official tourist spot". The New Indian Express. Press Trust of India. 6 October 2017. Archived from the original on 4 November 2021. Retrieved 4 November 2021.
  31. ^ "The Profile of Bombay Stock Exchange Limited".
  32. ^ "The History of Bombay Stock Exchange". YouTube. Archived from the original on 30 October 2021.
  33. ^ "The 1993 Mumbai Blasts: What Exactly Happened on March 12 That Year". News18. Archived from the original on 16 October 2017. Retrieved 16 October 2017.
  34. ^ "Bombay Stock Exchange (BSE) commits to promoting sustainability". UNCTAD. Archived from the original on 2 April 2015. Retrieved 29 April 2016.
  35. ^ "India INX". indiainx.com. Archived from the original on 18 October 2018. Retrieved 15 March 2018.
  36. ^ "India thehindubusinessline". Business Line. Archived from the original on 27 July 2020. Retrieved 25 October 2018.
  37. ^ "BSE demutualisation complete". Business Standard. 14 June 2013. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  38. ^ "Order in respect of BSE (Corporatisation and Demutualisation) Scheme, 2005". sebi.gov.in. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  39. ^ "BSE to list on NSE on 3 February". Livemint. 29 January 2017. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  40. ^ Manu Balachandran (22 January 2017). "142 years after taking roots under a banyan, Asia's oldest stock exchange hits the capital market today". qz.com. Quartz. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  41. ^ "Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 [Last amended on June 04, 2019]". sebi.gov.in. Archived from the original on 11 January 2023. Retrieved 27 November 2022.

External linksEdit

 
Wikimedia Commons has media related to Bombay Stock Exchange.
  • Official website

Coordinates: 18°55′47″N 72°50′00″E / 18.9298°N 72.8334°E / 18.9298; 72.8334 (Bombay Stock Exchange)

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