Today on 9th July 1875 the Bombay Stock Exchange also known as
BSE Ltd was formed. The present BSE Ltd is Asia's oldest Stock exchange and
had a very humble beginning under a Banyan tree in Mumbai town hall. It was
formed by four Gujaratis and one Parsi. Later on, the group gradually grew. As
the number of brokers continued to increase, the venue of their meeting
changed many times. In 1874, the group finally moved to Dalal Street and in
1875 the group became an official organization known as ‘The Native Share and
Stockbrokers Association’.
It is also the first stock
exchanges to be recognised by the Government of India under the Securities Contracts
Regulation Act. Around 1986, the BSE had developed the BSE SENSEX which made it
easy for BSE to measure the overall performance of the exchange. In 2000, BSE
used its index to open its derivatives markets, trading SENSEX futures
contracts.
One of the most influential personalities of it was Sir
Phiroze Jeejeebhoy. The stock market was dominated by Jeejeebhoy, who was its chairman from 1966 until his death in 1980. Sir
Jeejeebhoy had enormous influence over brokers and the government. He also helped to
avert many critical situations owing to his knowledge and vast experience.
India Post issued a stamp in 2016 to commemorate this
first stock exchange or ‘Share Bazar’ of Asia. Stock Exchange pioneered in
promoting equity investments in India who's history is around 139 years old.
To know more about stamp Visit
philamart to view and purchase variety
of stamps from all over the world.
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