Share Market History The Stock Market is Done in Big Buildings.
Share Market History: Today, even though all the work of the share market is done through lots of computers in big buildings, it started from under a banyan tree. In the 1850s, some people together started a share exchange in India.
In today’s time, India’s share market has become very important. Which is one of the top 5 share market in the world. When it comes to Asia, it is considered to be the oldest share market. It is called the Stock Exchange. Even though today all the work of the share market is done in big buildings happens through a lot of computers, But it started from under a banyan tree. In the 1850s, some people together started a stock exchange in India. To tell you many such things about the share market. Starting Zee Business for Share Market Knowledge. Let us know today in its first story how the share market started under trees and gradually reached big buildings.
During the 1850s, deals related to the cotton trade took place under a banyan tree. It was in front of the Town Hall of Mumbai, Which is today known as Horniman Circle. Book by Ashish Kumar Chauhan and Archana Jain 6 stocks of Chapparia Bania community according to ‘The Temple of Wealth Creation’ Brokers started gathering under the banyan tree. The credit for starting it is also given to cotton trader Premchand Raichand Jain. who entered trading during the 1850s.
Gradually many brokers started gathering there and deals started taking place. By 1875 the number of brokers had increased so much that Even an office was taken for work. Parsi, Marwari, Marathi, Muslim, Jain, Gujarati, Bania, and Brahmin all were included in these brokers. In the year 1895, the Stock Exchange purchased land on Dalal Street itself.
And the stock exchange was inaugurated there in 1899. Let us tell you that in those early days, trading in the stock market used to start at 1 pm.
The Association Formed With a Rs 1 Entry Fee
It is believed that the brokers worked at many places before coming to this office. But ultimately his search ended here. At that time a group of brokers together Created the official organization The Native Share & Stock Brokers Association, This is today’s BSE.
Many Stock Exchanges Opened
After this many stock exchanges opened. Ahmedabad Stock Exchange opened in 1894, where shares of textile mills were traded. Calcutta Stock Exchange started in 1908 for trading shares of plantation and jute mill companies. Madras Stock Exchange was also started in 1920. Madhya Pradesh (Indore) Stock Exchange started in 1930. Hyderabad stock exchanges started in 1943 and Delhi stock exchanges started in 1947.
Sensex Started In 1986: In the year 1986, Sensex i.e. Sensitive Index was started, under which 30 companies came. During that time its base point was kept at 100. Securities and Exchange Board of India i.e. SEBI was started in 1988. At that time it was a non-statutory body, which did not have many powers. By issuing the SEBI Act on January 30, 1992, SEBI was made a statutory body and given all powers.
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NSE Started Again
In the year 1994, the National Stock Exchange i.e. NSE i.e. Nifty was started, under which 50 companies came. it started because So that the transparency of BSE remains and there is no other exchange to compete with it. NSE launched a wholesale debt market and equity market Started operations in 1994, but operations on NSE in the derivatives market started in the year 2000.
Sensex Journey: In 1986, Sensex started with 100 points, which reached the level of 1000 points by 1990. After that, by 6 February 2006 i.e. in 16 years, Sensex touched the level of 10,000 points. After this, Sensex reached 60,000 points in the next 16 years till 24 September 2021. On July 20, 2023, the Sensex reached its highest level of 67,619.
