Mumbai: 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)
