Bombay Stock Exchange

BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange which is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a kumauni businessman,[6] it is the oldest stock exchange in Asia,[7] and also the tenth oldest in the world.[8] The BSE is one of the world's largest stock exchanges by market capitalization.[4]

BSE Ltd.
Corporate headquarters on Dalal Street
TypeStock exchange
LocationMumbai, Maharashtra, India
Founded9 July 1875 (9 July 1875)[1]
Key people
CurrencyIndian rupee (₹)
No. of listings5,307[4]
Market cap₹280 trillion (US$3.5 trillion) (Feb 2023)[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

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.[9] 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.[10][11][12][13]

History

Bombay Stock Exchange was started 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][lower-alpha 1]

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

Criticism and controversies
See also: 1992 Indian stock market scam, Ketan Parekh, and NSE co-location scam

A number of corruption scandals, including the 1992 Indian stock market scam and others, have rocked the Indian stock exchanges.[26][27][28][29][30][31][32] At various times, numerous Indian corporate groups have been charged with stock manipulation.[33][34][35][36][37][38][39][40]

See also

References

Notes
  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.[25]

Citations
  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. "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. Priya Rawal (16 April 2015). Indian Stock Market and Investors Strategy. 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. 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.
  10. "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.
  11. 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.
  12. 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.
  13. 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.
  14. "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.
  15. "The Profile of Bombay Stock Exchange Limited".
  16. "The History of Bombay Stock Exchange". YouTube. Archived from the original on 30 October 2021.
  17. "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.
  18. "Bombay Stock Exchange (BSE) commits to promoting sustainability". UNCTAD. 28 September 2012. Archived from the original on 2 April 2015. Retrieved 29 April 2016.
  19. "India INX". indiainx.com. Archived from the original on 18 October 2018. Retrieved 15 March 2018.
  20. "India thehindubusinessline". Business Line. October 2018. Archived from the original on 27 July 2020. Retrieved 25 October 2018.
  21. "BSE demutualisation complete". Business Standard India. Business Standard. 14 June 2013. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  22. "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.
  23. "BSE to list on NSE on 3 February". Livemint. 29 January 2017. Archived from the original on 27 November 2022. Retrieved 27 November 2022.
  24. 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.
  25. "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.
  26. "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.
  27. 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.
  28. "BSE Sensex drops as corruption scandal weighs". Reuters. 25 November 2010. Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  29. "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.
  30. "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.
  31. ""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.
  32. "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.
  33. "Why Reliance Was Fined Rs 1,000 Crore For Trading Reliance Petroleum Shares". The Wire. Retrieved 12 February 2023.
  34. Roy, Abhirup (1 January 2021). "India's Reliance Industries and chairman fined over share trades". Reuters. Retrieved 12 February 2023.
  35. "Reliance Industries Falls After Manipulation Charge, Trading Ban". Bloomberg.com. 27 March 2017. Retrieved 12 February 2023.
  36. "Hindenburg's Short Sell Call Shaves $12 Billion Off Adani Stocks". Bloomberg.com. 25 January 2023. Retrieved 12 February 2023.
  37. "Gautam Adani's net worth plummets amid allegations of 'brazen stock manipulation'". ABC News. 26 January 2023. Retrieved 12 February 2023.
  38. "What is Hindenburg Research, the company that has accused Adani Group of stock manipulation, fraud?". The Indian Express. 25 January 2023. Retrieved 12 February 2023.
  39. Lee, Jihye. "Adani shares plunge further as it weighs legal action against short seller firm". CNBC. Retrieved 12 February 2023.
  40. Ray, Siladitya. "Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major Hit". Forbes. Retrieved 12 February 2023.
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