Bombay Stock Exchange turns 146:How was the journey of BSE from 1875 till now?, know everything

Today the Bombay Stock Exchange (BSE) turns 146 years old. BSE was established on 9 July 1875. It is the first and fastest stock exchange in Asia. The Bombay Stock Exchange’s Sensex, which started with 100 basis points about 41 years ago, has crossed 53,000 today. That is, the Sensex has increased by about 530 times.

The stock market was started under a banyan tree by 318 people with an entry fee of Re 1. Dolex-30 was launched by the Bombay Stock Exchange (BSE) on January 25, 2001. It is called dollar linked version of BSE.

Origin of Sensex Story
When the Sensex was launched in 1986, its base year was kept as 1978-79 and the base was made 100 points. In July 1990, this figure reached 1,000 points. After the economic liberalization of 1991, the government opened the doors of FDI and changed the law of doing business. Market value was deregulated and the economy was service oriented. This increased the momentum in the Sensex.

When the Sensex was first formed, what were the changes that
first included companies from the service industry, ie banking, telecom and IT sectors. After this, in the late 90s and early 2000s, due to the rapid development in IT companies, TCS and Infosys were included in place of the old companies. Since liberalization, India’s big companies are not much dependent on domestic sales. All these companies have been increasing business through exports. On the other hand, companies like Infosys have benefited due to outsourcing in the IT sector. Automobile sector companies like Tata have forayed into developed markets like UK

Harshad Mehta scandal: In March 1992, the Sensex closed at the level of 4 thousand for the first time, but after that the Sensex kept swinging between 2,900 to 4,900 and it took more than seven years to reach 5 thousand. The main reason for this was that due to the disclosure of Harshad Mehta’s scam this year, there was a huge sell-off in the stock market.

In 2006,
it took more than 6 years for the Sensex to cross 10 thousand from 5 thousand to 10 thousand. On 7 February 2006, the Sensex closed at 10,082.28, but within the next one and a half years, the Sensex reached the level of 10 to 15 thousand.

2007 best for the Sensex
On July 9, 2007, the Sensex closed at 15,045.73. 2007 was the best year ever for the Sensex. Within the next six months, the Sensex reached the level of 20 thousand and in December 2007, the Sensex had also crossed the level of 20,000.

The 2008 recession
spoiled the game of the market. On January 8, 2008, the Sensex had crossed the level of 21 thousand for the first time during trading, but the international recession that came in the same year spoiled the whole game. Due to the recession, along with the stock markets of the whole world, the Indian stock market also collapsed and on January 10, 2008, the Sensex closed at the level of 14,889.25. The Sensex closed at 12,575.8 on July 16 this year. Not only this, in November 2008, the Sensex had reached the level of 8,451.01. After this it took about 3 years for the Sensex to go back to the level of 21 thousand.

In 2014, the market gave a great welcome to Narendra Modi. In the
year 2013, the BSE Sensex overturned and on January 18, 2013, the Sensex again closed at 20,039.04. In 2014, the NDA government was formed at the center under the leadership of Narendra Modi. The stock market also welcomed the Modi government fiercely. On 16 May 2014, the Sensex had reached the level of 25,364. After this it took three years for the Sensex to reach from 25 thousand to 30 thousand.

In the year 2017, the level of 30 thousand
reached the level of 30,133 in the month of April 2017 and in the next one year itself, the Sensex reached the level of 35 thousand. The Sensex closed at 35,081 on January 17, 2018. On 30 October 2019, the Sensex touched the level of 40,051.

Sensex had reached close to 42 thousand in January 2020, but after that the corona of the year 2020 started causing havoc. And this was the reason that the Sensex reached 25,981 after the lockdown in March 2020, although from the end of April and May, the Sensex started to recover again.

The journey of 40 to 50 thousand in 15 months On
30 October 2019, the Sensex closed above 40,000 for the first time. On the basis of foreign and domestic investors, the Sensex has traveled from 40 to 45 thousand in about a year. The Sensex closed at 45,079 on December 4, 2020. About one and a half months after this, the Sensex crossed the 50 thousand mark, making a new record on 21 January 2021.

Who started the Bombay Stock Exchange?
Bombay Stock Exchange was started by 4 Gujarati and one Parsi stockbrokers. Around 1850, in connection with his business, he used to hold a meeting under a banyan tree in front of the Town Hall of Mumbai. The number of these brokers kept increasing year after year. In 1875, he formed his own ‘The Native Share and Stock Brokers Association’, as well as bought an office on Dalal Street. Today it is called Bombay Stock Exchange.

In a special conversation with Dainik Bhaskar, BSE MD & CEO Ashish Chauhan said that BSE has been working for investment and wealth creation in India since its inception for the last 146 years. The success of BSE can be seen from over 7.2 crore investor accounts, over 4,700 registered companies and an equity market capitalization of over Rs 231 lakh crore. BSE will help India achieve double digit annual growth in the times to come.

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