BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange which is located on Dalal Street, known as the Wall Street of Mumbai,[8] in turn described as the New York of India.[9] Established in 1875 by cotton merchant Premchand Roychand,[10] it is the oldest stock exchange in Asia,[11] and also the tenth oldest in the world.[12] The BSE is the world's 8th largest stock exchange with a market capitalization exceeding US$4.5 trillion as of January 2024.[13]
Type | Stock exchange |
---|---|
Location | Mumbai, Maharashtra, India |
Founded | 9 July 1875[2] |
Key people | |
Currency | Indian rupee (₹) |
No. of listings | 5,309[5] |
Market cap | ₹366 trillion (US$4.6 trillion) (January 2024)[6] |
Indices |
|
Website | bseindia.com |
Company | |
NSE: BSE | |
ISIN | INE118H01017 |
Headquarters | |
Website | www |
Bombay Stock Exchange was founded by Premchand Roychand in 1875.[14] 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.[15] A decade later, the brokers moved their location to under the 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.[16]
On 12 March 1993, a car bomb exploded in the basement of the building during the 1993 Bombay bombings.[17] The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.[18] BSE established India INX on 30 December 2016. India INX is the first international exchange of India.[19] BSE became the first stock exchange in the country to launch commodity derivatives contract in gold and silver in October 2018.[20]
BSE was demutualized and corporatized on 19 May 2007, pursuant to the BSE (Corporatization and Demutualization) Scheme, 2005 notified by SEBI.[21][22] It was listed on NSE on 3 February 2017.[23][24][a]
A number of corruption scandals, including the 1992 Indian stock market scam and others, have rocked the Indian stock exchanges.[44][45] At various times, numerous Indian corporate groups have been charged with stock manipulation.[46]
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