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BSE completes 143 years on 9 July 2018. Here are some mind blowing fact about Bombay Stock Exchange (BSE).
1. Oldest stock exchange
A very few people aware of the fact that BSE is also known as the first stock exchange in the largest continent Asia, started in the year 1875. While the world’s oldest stock exchange started in the year 1602 in Amsterdam.
2. The largest number of companies
BSE( Bombay Stock Exchange)having the largest number of companies listed in exchange which is about 5689 company, wherein NSE (National Stock Exchange) also having 1750+ companies listed on.
3. Started with a different name
BSE started with the name of Native share and stock brokers association in 1875 which was later changed into Bombay stock exchange.
The road where BSE is located is known as “Dalal Street” which is a hindi translation of Broker. Street gets more interesting when you will know that Bombay stock exchange was started under a banyan tree in 1955 near the town hall in the Mumbai (then Bombay). The place changed many times till they got a roof as its current place in Dalal Street in 1875.
Credit of Bombay stock exchange goes to the 4 Gujarati’s and 1 Parsi stock broker who gathered under that Banyan tree in Mumbai.
6. Superstition associated with BSE
Gate number 2 (famous bull statue) at BSE is a very notorious gate, people believe that whenever the gate is opened, the market crash.
a. The door was first opened in 1992, and the infamous Harshad Mehta scam happened soon after it.
b. In 2001, the door was opened again during US President Clinton’s visit and there was a major crash in the stock exchange.
c. Again, in 2008 when the gate was opened to install a new statue, the markets crashed suddenly.
7. Adaptation of Technology
The speed of execution transaction under the National Stock Exchange of India is 2 milliseconds. Transaction execution capacity of BSE is 5 lakhs order in a second and a response time of 200 microseconds
8. October Superstition in BSE
Many traders and investor in BSE consider October as Jinxed Month ( because of the past incidents which occurred during the month of October i.e. 1929 crash and 1987 crash)
9. Cricket effect
Market has shown that there is a sharp and significant decline in stock prices the day after India loses a match. The fall in stock prices after a loss is more than seven times the movement after a win. Surely we are cricket crazy nation.
10. East India Company
The organization which brought in the concept of trading in stocks and shares within India is the East India Company.