Our Bureau
Mumbai
The Bombay Stock Exchange (BSE), Asia’s oldest stock exchange, marked its 150th anniversary this week, celebrating a remarkable journey from humble origins beneath a banyan tree to its current status as one of the world’s largest and most influential financial institutions.
BSE’s story began in the mid-19th century, when a handful of stockbrokers would gather under a sprawling banyan tree near Mumbai’s Town Hall to trade cotton and company shares. This informal bazaar laid the groundwork for what would become a cornerstone of India’s financial system. On July 9, 1875, these traders formally established the Native Share & Stock Brokers’ Association, the entity that would evolve into the BSE.
Premchand Roychand, known as the “Cotton King of Bombay,” was a key founder, and the association initially counted just 318 members, each contributing a single rupee as the admission fee. The exchange’s early years were marked by modest means and a spirit of collaboration, with support from industrialists like Dinshaw Maneckji Petit helping the association secure its first trading hall on Dalal Street.
Over the decades, BSE weathered economic downturns, world wars, and the challenges of a rapidly changing India. It received permanent recognition from the government in 1957 under the Securities Contracts (Regulation) Act, solidifying its legal standing.
A major milestone came in 1986 with the launch of the S&P BSE Sensex, India’s first equity index, which has since become a barometer of the nation’s economic health. Today, the Sensex has soared past the 82,000 mark, reflecting India’s robust growth.
Now headquartered in the iconic Phiroze Jeejeebhoy Towers on Dalal Street, BSE lists over 5,600 companies with a combined market capitalization exceeding ₹462 lakh crore. The exchange has played a pivotal role in channeling investments into India’s growth story and now stands among the world’s top ten stock exchanges by market value.
As BSE celebrates 150 years, it remains a symbol of resilience, innovation, and the enduring spirit of India’s capital markets.
