Wikipedia

Bombay Stock Exchange

BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange with highest number of companies (5,246 (as of 8th February 2022)) which is located on Dalal Street.[8] Established with the efforts of cotton merchant Premchand Roychand in 1875,[9][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 6th largest stock exchange with a market capitalization exceeding US$5 trillion on May 21, 2024.[13]

BSE Limited
Official logo of BSE[1]
Corporate headquarters on Dalal Street
TypeStock exchange
LocationMumbai, Maharashtra, India
Coordinates18°55′47″N 72°50′01″E / 18.929681°N 72.833589°E / 18.929681; 72.833589
Founded9 July 1875; 149 years ago (9 July 1875)[2]
Key people
CurrencyIndian rupee (₹)
No. of listings5,512[5]
Market cap₹461 lakh crore (US$5.3 trillion) (4 Oct 2024)[6]
Indices
Websitebseindia.com
Company
NSE: BSE
ISININE118H01017
Headquarters
Mumbai Edit this on Wikidata
Websitewww.bseindia.com Edit this on Wikidata

History

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Bombay Stock Exchange logo until June 2023

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, four Gujarati and one Parsi stockbroker gathered together under a Banyan tree in front of Bombay (now Mumbai) Town Hall, where Horniman Circle is now situated.[10][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]

Criticism and controversies

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Main articles: 1992 Indian stock market scam, Harshad Mehta, and Ketan Parekh
See also: NSE co-location scam

The Indian stock exchanges BSE and NSE have witnessed several high-profile corruption scandals.[26][27][28][29][30] At times, the Securities and Exchange Board of India (SEBI) has barred several individuals and entities from trading on the exchanges for insider trading, stock manipulation, especially in illiquid mid-caps, small-caps and penny stocks.[31][32][33][34]

See also

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References

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Notes

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  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

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  1. ^ "BSE unveils new logo on its 149th foundation day". mint. 10 July 2023.
  2. ^ India, BSE. "Corporate profile" (PDF). Archived (PDF) from the original on 25 September 2021. Retrieved 8 August 2020.
  3. ^ "SEBI approves Subhasis Chaudhuri's appointment as BSE governing board chairman - CNBC TV18". CNBC TV18. 22 November 2024. Retrieved 4 December 2024.
  4. ^ "bse bod". Archived from the original on 11 January 2023. Retrieved 11 January 2023.
  5. ^ "All India Market Capitalization | BSE Listed stocks Market Capitalization". BSE. Retrieved 2 October 2024.
  6. ^ "Mkts suffer worst week in over 2 yrs; West Asia crisis weighs on sentiment". Business Standard. 4 October 2024. Retrieved 5 October 2024.
  7. ^ "BSE relaunches Sensex, Bankex derivative contracts". The Economic Times. 15 May 2023.
  8. ^ James Chen. "What Is Dalal Street?". Dotdash Meredith.
  9. ^ David, M.D. (1996). Urban Explosion of Mumbai: Restructuring of Growth. Himalaya Publishing House. p. 345. ISBN 978-81-7493-254-9.
  10. ^ a b "BSE-Introduction". bseindia.com. Archived from the original on 31 January 2018. Retrieved 31 January 2018.
  11. ^ 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.
  12. ^ "10 Oldest Stock Exchanges in the World". 10 September 2020. Archived from the original on 4 March 2021.
  13. ^ "Monthly Reports - World Federation of Exchanges". WFE. Archived from the original on 11 January 2023. Retrieved 21 May 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 the Bombay Stock Exchange Limited".
  16. ^ "The History of Bombay Stock Exchange". 11 September 2014. Archived from the original on 30 October 2021 – via YouTube.
  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. 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". 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.
  27. ^ Rangan, MC Govardhana. "The fall of NSE: Corruption or hubris?". The Economic Times.
  28. ^ "BSE Sensex drops as corruption scandal weighs". Reuters. 25 November 2010.
  29. ^ "SEBI penalises BSE, NSE for 'laxity' in Karvy fraud case". 13 April 2022.
  30. ^ "Trading 'queen' and mystery guru: Strange tale engulfs NSE in scandal". Business Standard India. 21 March 2022.
  31. ^ Sreedhar, Vidya (21 June 2023). "Rs 144 crore wrongful profit! Sebi finds stock manipulation in 5 smallcaps". The Economic Times. Retrieved 24 August 2023.
  32. ^ "Sebi ban pinches penny stocks". Business Standard. Retrieved 24 August 2023.
  33. ^ "SEBI Cracks Down on Misuse of Penny Stocks". The Wire. Retrieved 24 August 2023.
  34. ^ "I-T Department, SEBI begin crackdown on penny stock firms in PMO-led push". Moneycontrol. 20 November 2017. Retrieved 24 August 2023.

Further reading

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  • Kochhar, S. (2015). BSE: Journey of an Aspiring Nation. Skoch Media. ISBN 978-8-1929-1725-2.
  • Ramkumar, R.R. and Selvam, M. (2014). Efficiency of BSE Sectoral Indices in India: A Study with Special Reference to Bombay Stock Exchange Ltd in India. Lap Lambert Academic Publishing GmbH KG. ISBN 978-3-6592-1130-0.{{cite book}}: CS1 maint: multiple names: authors list (link)
  • Kaur, H. (2002). Stock Market Volatility in India. Deep & Deep Publications. ISBN 978-8-1762-9361-7.
  • Basu, D. and Dalal, S. (1993). The Scam: Who Won, who Lost, who Got Away. UBS Publishers' Distributors. ISBN 978-8-1859-4410-4. LCCN 93902443.{{cite book}}: CS1 maint: multiple names: authors list (link)
  • Hiremath, G.S. (2013). Indian Stock Market: An Empirical Analysis of Informational Efficiency. Springer India. ISBN 978-8-1322-1590-5. LCCN 2013946889.
  • Cummings, L. (2014). Rethinking the BSE Crisis: A Study of Scientific Reasoning under Uncertainty. Springer Netherlands. ISBN 978-9-4017-8491-7.
  • Razdan, A. Scaling in the bombay stock exchange index. Pramana - J Phys 58, 537–544 (2002). doi:10.1007/s12043-002-0063-y
  • Goel, A., Tripathi, V. and Agarwal, M. (2021), "Market microstructure: a comparative study of Bombay stock exchange and national stock exchange", Journal of Advances in Management Research, Vol. 18 No. 3, pp. 414-442. doi:10.1108/JAMR-06-2020-0109
  • Krishnamurti, Chandrasekhar and Eleswarapu, Venkat R., Liquidity, Stock Returns and Ownership Structure - An Empirical Study of the Bombay Stock Exchange (March 31, 1994). IIM Bangalore Research Paper No. 65, Available at SSRN 2181543 or doi:10.2139/ssrn.2181543
  • Sumon Kumar Bhaumik. “Stock Index Futures in India: Does the Market Justify Its Use?” Economic and Political Weekly, vol. 32, no. 41, 1997, pp. 2608–11. JSTOR 4405950. Retrieved 13 Feb. 2024.
  • Ganeshaiah, K. N. “Has the Behaviour of the Stock Market Been Affected by the Scam? — A Statistical Analysis.” Current Science, vol. 63, no. 7, 1992, pp. 345–47. JSTOR 24095453. Retrieved 13 Feb. 2024.
  • Nair, S. (2021). Bulls, Bears and Other Beasts (5th Anniversary Edition): A Story of the Indian Stock Market. Pan Macmillan. ISBN 978-9-3907-4257-8.
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18°55′47″N 72°50′00″E / 18.9298°N 72.8334°E / 18.9298; 72.8334 (Bombay Stock Exchange)

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