Bombay Exchanged is formed

09 Jul 2019  Tue

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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