| The Bombay Stock Exchange Limited (formerly, The Stock
Exchange, Mumbai; popularly called The Bombay Stock Exchange,
or BSE) is the oldest stock exchange in Asia. It is located
at Dalal Street, Mumbai, India.
Bombay Stock Exchange was established in 1875. There
are around 3,500 Indian companies listed with the stock
exchange, and has a significant trading volume. As of
October2006, the market capitalization of the BSE was
about Rs. 33.4 trillion (US $ 730 billion). The BSE
SENSEX (SENSitive indEX), also called the BSE 30, is
a widely used market index in India and Asia. As of
2005, it is among the 5 biggest stock exchanges in the
world in terms of transactions volume.
An informal group of 22 stockbrokers began trading under
a banyan tree opposite the Town Hall of Bombay from the
mid-1850s, each investing a (then) princely amount of
Rupee 1. This banyan tree still stands in the Horniman
Circle Park, Mumbai. The informal group of stockbrokers
organized themselves as the The Native Share and Stockbrokers
Association which, in 1875, was formally organized as
the Bombay Stock Exchange (BSE).
In January 1899, the stock exchange moved into the
Brokers’ Hall after it was inaugurated by James
M Maclean. After the First World War, the BSE was shifted
to an old building near the Town Hall. In 1928, the
plot of land on which the BSE building now stands (at
the intersection of Dalal Street, Bombay Samachar Marg
and Hammam Street in downtown Mumbai) was acquired,
and a building was constructed and occupied in 1930.
Premchand Roychand was a leading stockbroker of that
time, and he assisted in setting out traditions, conventions,
and procedures for the trading of stocks at Bombay Stock
Exchange and they are still being followed.
Several stock broking firms in Mumbai were family run
enterprises, and were named after the heads of the family.
The following is the list of some of the initial members
of the exchange, and who are still running their respective
business.
The BSE SENSEX (also known as the BSE 30) is a value-weighted
index composed of 30 scrips, with the base April 1979
= 100. The set of companies which make up the index
has been changed only a few times in the last 20 years.
These companies account for around one-fifth of the
market capitalization of the BSE.
BSE Broadcast
The BSE Broadcast is a large ticker on the wall of the
BSE, which continuously displays the latest stock quotes
from the market. It will also display – on what
is described as India and South Asia's largest video
screen – India's number-one business-news channel:
NDTV Profit.
This new system was unveiled on December 15, 2006,
when Prannoy Roy, the Managing Director of NDTV Ltd,
struck the BSE's opening bell. Mr Damodaran, the Chairman
of the Securities and Exchange Board of India (SEBI),
said that the ticker would provide information and analysis
of the financial world.
|
