Bombay stock exchange is the largest in India. It accounts for 2/3rds of the total business conducted in India. It is also the fifth largest exchange in the world, with market capitalization of $466 billion.
The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when 4 Gujarati’s and 1 Parsi stockbroker would gather under banyan trees in front of Mumbai’s Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as ‘The Native Share & Stock Brokers Association’. It is one of the oldest in Asia having preceded even the Tokyo Stock Exchange which was founded in 1878. In the early days the business was conducted under the shade of a banyan tree in front of the town hall. The tree can still be seen in the Horniman Circle Park. In 1850 the Companies Act was passed and that heralded the commencement of the joint stock companies in India. The American Civil War of 1860 helped Indians to establish brokerage houses in Bombay. The leading broker at the time, Premchand Roychand, assisted in framing conventions, ground rules and procedures for trading which are respected even now. He was the first Indian broker who could speak and write in fluent English. The exchange was established with 318 members with a fee of Re. 1/-. This fee has gradually increased over the years and today it is a over a crore.
In January 1899, the Brokers' Hall was inaugurated by James M. MaClean, M.P. After the First World War the Bombay Stock Exchange (BSE) was housed in an old building near the Town Hall. In 1928, the present plot of land was acquired surrounded by Dalal Street, Bombay Samachar Marg, and Hammam Street. A building was constructed in 1930 and occupied in December of that year.
In 1995 the operations and dealings of the BSE were fully computerized and thus the famous out-cry system of share trading was replaced by screen based trading as in other modern stock exchanges around the world. Today Bombay is the financial and business capital of India. The BSE is housed in the 28-storied Phiroze Jeejeebhoy Towers in the same place where the old building once stood. Sir Phiroze Jamshedji Jeejeebhoy was the Chairman of the Exchange from 1966 till his death in 1980. The building has been named after him since its construction commenced during his Chairmanship and was completed just as he passed away.
What are the hours of operation?
|Beginning of the Day Session||8:00 – 9:00|
|Trading Session||9:00 – 15:30|
|Position Transfer Session||15:30 – 15:50|
|Closing Session||15:50 – 16:05|
|Option Exercise Session||16:05 – 16:35|
|Margin Session||16:35 – 16:50|
|Query Session||16:50 – 17:35|
|End of Day Session||17:30|