The Bombay Stock Exchange (BSE), which will celebrate its 150th anniversary in 2025, has its roots in humble beginnings under a banyan tree in 1855. Initially, South Mumbai traders used to meet unofficially under the tree to trade in cotton, setting the stage for what would one day become Asia's first stock exchange.
With more traders, the Native Share and Stock Brokers' Association came into existence formally on July 9, 1875. This association then developed into the BSE. Interestingly, this was three years prior to when the Tokyo Stock Exchange was set up, thereby making BSE the oldest stock exchange in Asia.
One of the most important people involved in the establishment of BSE was Premchand Roychand, popularly referred to as the "Cotton King of Bombay." The original membership of the Native Share and Stock Brokers' Association was 318 members, and the joining fee was a humble one rupee.
In 1928, BSE purchased the property on which its present building is located, and work on the building commenced in 1930. Following independence for India, the exchange was formally recognized in 1957 under the Securities Contracts (Regulation) Act (SCRA).
The now-iconic Phiroze Jeejeebhoy Towers that BSE calls home today was completed in 1970 and was named after Phiroze Jamshedji Jeejeebhoy, the BSE chairman from 1966 to 1980. In 1986, BSE introduced India's first stock index, the Sensex, with a base value of 100. The Sensex has achieved landmark milestones over the years, breaking the 1,000 barrier in 1990, 5,000 in 1999, 20,000 in 2007, and 80,000 in 2024.
To mark its 149th Foundation Day in 2023, BSE launched a new logo representing prosperity, vibrancy, growth, and new beginnings. The exchange's renewed confidence and increasing responsibility are also expressed through the logo. The events, organized on July 10, 2023, saw a ceremonial bell-ringing. BSE said, "On this unique occasion, as part of the run-up to our 150th Foundation Day, we are pleased to unveil a new logo. It signifies prosperity, vibrancy, growth, and new beginnings, in addition to acknowledging our ever-growing trust and greater responsibility."
Presently, BSE is one of the world's largest stock exchanges with more than 4,100 listed companies and total market capitalization of Rs 419 lakh crore.
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