BSE will complete 150 years in 2025, Banyan tree will have something like this till joining the world’s big stock exchange
New Delhi:
The Bombay Stock Exchange (BSE) will complete its 150 years in 2025. Asia’s first stock exchange was established on 9 July 1875 near the Town Hall in South Mumbai. However, the journey of BSE started two decades before this in 1855, when traders were found to buy and sell cotton under the banyan tree.
Asia’s first stock exchange established in 1875
In this way, the number of traders continued to increase with time and on 9 July 1875, the Native Share and Stock Brokers Association was established, which later became BSE. It was also founded three years before the Tokyo Stock Exchange in Japan. For this reason, BSE is also called Asia’s oldest stock exchange.
Initially entry was available for just 1 rupee
The main founders of BSE also included Premchand Roychand, who was called the ‘Cotton King’ of Bombay. According to the reports, the number of members of the Native Share and Stock Brokers Association was initially 318. Its entry charge was one rupee.
Official recognition received in 1957
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 former BSE chairman Feroz Jamshedji Jibhoy, who took over the BSE work from 1966 to 1980.
Sensex journey started in 1986
The BSE launched India’s first stock index Sensex (Sensex) in 1986 with a base of 100. Sensex first touched the 1,000 mark in 1990. After this, for the first time in 1999, 5,000 and 20,000 in 2007 and in 2024 crossed 80,000.
Today more than 4,100 companies listed on BSE, market cap 419 lakh crore
Currently, BSE is one of the world’s big stock exchanges, on which more than 4,100 companies are listed and its market cap has been increased to Rs 419 lakh crore.
