Vihar Vaishnav: The BSE’s journey began two decades earlier in 1855 when traders would meet under a banyan tree to buy and sell cotton.
With time, the number of traders kept increasing at this place and due to the arrival of a large number of traders, the Native Share and Stock Brokers Association was established on July 9, 1875, which later became BSE.
BSE was established three years before the existing Tokyo Stock Exchange of Japan. Due to this, BSE is also called the oldest stock exchange of Asia.
One of the main founders of BSE was Premchand Roychand, known as the ‘Cotton King’ of Bombay.
According to reports, initially the number of members of the Native Share and Stock Brokers Association was 318. Its entry fee was one rupee.
Also, according to reports, the existing land for BSE was purchased in 1928, while construction of the building began in 1930. Then after independence, in 1957, BSE was officially recognized through the Securities Contract (Regulation) Act (SCRA).
The existing BSE building – PJ Towers was constructed in 1970. The building is named after former BSE Chairman Firoz Jamshedji Jeejeebhoy, who headed the BSE from 1966 to 1980.
BSE launched India’s first stock index, Sensex, in 1986 with a base of 100.
The Sensex touched the 1,000 mark for the first time in 1990. After this, it crossed the 5,000 mark for the first time in 1999 and 20,000 in 2007 and 80,000 in 2024.
Currently, BSE is one of the largest stock exchanges in the world, with more than 4,100 companies listed on it and its market capitalization has exceeded Rs 461 lakh crore.
