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How stocks were traded in the '90s

July 16, 2013 09:56 IST

How stocks were traded in the '90s

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Bombay Stock Exchange, the first-ever stock exchange in Asia established in 1875 and the first in the country to be granted permanent recognition under the Securities Contract Regulation Act, 1956, has had an interesting rise to prominence over the past 137 years.

Let's take a look at how stocks were traded in the 1990s.

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Image: A view of Bombay Stock Exchange.
Photographs: Punit Paranjpe/Reuters

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How stocks were traded in the '90s

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While BSE is now synonymous with Dalal Street, it was not always so. The first venue of the earliest stock broker meetings in the 1850s was in rather natural environs - under banyan trees - in front of the Town Hall, where Horniman Circle is now situated.

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Image: Stock brokers at a brokerage firm in Mumbai trade in front of a television screen displaying Atal Behari Vajpayee delivering his parliament address in New Delhi, April 17, 1999.
Photographs: Reuters

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How stocks were traded in the '90s

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A decade later, the brokers moved their venue to another set of foliage, this time under banyan trees at the junction of Meadows Street and what is now called Mahatma Gandhi Road.

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Image: Stock brokers trade in Mumbai, July 5, 1999.
Photographs: Reuters

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How stocks were traded in the '90s

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As the number of brokers increased, they had to shift from place to place, but they always overflowed to the streets. At last, in 1874, the brokers found a permanent place, and one that they could, quite literally, call their own. The new place was, aptly, called Dalal Street (Brokers' Street).

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Image: A dealer in a brokerage firm in Mumbai trades on two phones even as Finance Minister Yashwant Sinha unveils the 1999/2000 budget as telecast on the television set, February 27.
Photographs: Reuters

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How stocks were traded in the '90s

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The journey of BSE is as eventful and interesting as the history of India's securities market.

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Image: Hectic trading at the Bombay Stock Exchange on January 5,where like in all South Asian markets stocks are expected to gain sharply, buoyed by the global movement of capital into emerging markets.
Photographs: Reuters
Tags: BSE , India

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How stocks were traded in the '90s

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In fact, as India's biggest bourse in terms of listed companies and market capitalisation, almost every leading corporate in India has sourced BSE services in raising capital and is listed with BSE.

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Image: Brokers in Delhi Stock Exchange carry on normal trade of shares on February 21 even as communist activists occupied the old bourse building to protest against the government's on-going reforms programme.
Photographs: Reuters
Tags: BSE , India

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How stocks were traded in the '90s

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Even in terms of an orderly growth, much before the actual legislations were enacted, BSE had formulated a comprehensive set of Rules and Regulations for the securities market.

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Image: Brokers perform a traditional prayer ritual on the occasion of Diwali in Mumbai, November 7.
Photographs: Reuters
Tags: BSE

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How stocks were traded in the '90s

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It had also laid down best practices which were adopted subsequently by 23 stock exchanges which were set up after India gained its independence.

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Image: A stock broker watches England play Sri Lanka in the inugural World Cup match as he trades on the phone in Mumbai, May 14.
Photographs: Reuters
Tags: India

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BSE, as a institutional brand, has been and is synonymous with the capital market in India. Its S&P BSE Sensex is the benchmark equity index that reflects the health of the Indian economy.


Image: Stock brokers trade at a brokerage firm in Mumbai, July 12.
Photographs: Reuters
Tags: BSE , India

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