150 years old BSE, started on this day under Banyan tree, the country became proud

New Delhi. The Bombay Stock Exchange (BSE) started with a conversation under a banyan tree, but today it has become one of the largest and busiest stock markets in the world. On 9 July 1875, it was formally established as ‘Native Share and Stock Brokers Association’. Now that BSE is completing its 150 years, this is the opportunity to understand its historical journey, which is deeply related to India’s economic development.

The BSE was also founded three years before the Tokyo Stock Exchange, which makes it Asia’s oldest stock exchange. Historic buildings such as Sensex flight, legal recognition after independence, and PJ Towers testify to its development. Today, more than 4,100 companies are listed on BSE and its market cap is more than 461 lakh crore rupees.

Premchand Roychand is an important name among the founders of BSE, which was called ‘Cotton King’. There were a total of 318 members in the initial time and only 1 rupee entry fee was kept.

Tower and official identity

In 1928, BSE bought the existing location land and construction work started in 1930. PJ Towers were built in 1970, which was named after Feroz Jamshedji Jibhoy. In 1957, BSE received official recognition under the ‘Securities Contract Regulation Act’.