Indians, specially residents of Gujrat state have deep interest in stock exchanges in India.This blog post is about the same, that is , Stock market in India. At present there are 11 exchanges are active in India,inclusive of commodity exchanges. The second biggest exchange in India is Bombay Stock Exchange established in 1875 . It is popularly known as Dalal Street and the road sign board on the Dalal street says " Wealth is Health " . Dalal means a trader in Hindi.And hence the street which hosts the BSE is now called Dalal Street.
In India, this is a very common culture of giving alternative names to places like Vishakhapattanam is Vizag and Tiruvanatpuran is Trivendram. So nothing so unexceptional if stock exchanges are called dalal street. The venue of the this stock exchange also has an interesting story. The first venues for trading were not under roof, but in open under banyan trees.James M. Maclean inaugurated the Brokers Hall in January 1899.Premchand Roychand was influential broker those days,and he assisted in setting out traditions, conventions, and procedures for the trading of stocks at Bombay Stock Exchange and they are still being followed. In 1928, the plot was chosen for constructing exchange's building, and in 1930 it was built, what we see today.
And as the number of brokers started growing, BSE was shifted from place to place, and then finally to the famous Dalal Street.
One more fact about BSE is that, till 2002, it was The Stock Exchange, Mumbai, then it was Bombay Stock Exchange till 19 Aug. 2005. And then Bombay Stock Exhange Limited.Before 1995, there was system of shouting and trading, but then after it adopted BOLT BSE Online trading, and lateron, 1997, the online trading was adopted all through India.At present, there are more than 4000 of various sectors are listed in BSE.
Apart from sensex, BSE uses several other indices also :
BSE 100 ( 100 stock index)
BSE 500 (500 stock index)
BSEPSU (Public Service Index)
BSEMIDCAP (BSE Mid Cap index)
BSESMLCAP ( BSE small Cap index)
BSEBANKEX ( BSE bank index)
BSE has an outstanding record of being first in several times , some snippet are below :
First in India to introduce Equity Derivatives
First in India to launch a Free Float Index
First in India to launch US$ version of BSE SENSEX
First in India to launch Exchange Enabled Internet Trading Platform
First in India to obtain ISO certification for a stock exchange
'BSE On-Line Trading System’ (BOLT) has been awarded the globally
recognised the Information Security Management System standard
BS7799-2:2002.
First to have an exclusive facility for financial training
First in India in the financial services sector to launch its website in Hindi and Gujarati
Shifted from Open Outcry to Electronic Trading within just 50 days
First bell-ringing ceremony in the history of the Indian capital markets (listing ceremony of Bharti Televentures Ltd.on February 18,2002)
Besides, BSE conducts an investors education programs, which are more or less trading tutorials not investment ones.
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