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The Bombay Stock Exchange |
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The Bombay Stock Exchange continues to retain the ‘Bombay’ despite every thing else in Bombay getting the `Mumbai’ makeover. This is perhaps because nothing is more powerful than money and the BSE is a major stock exchange of the country. The Bombay |
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Stock Exchange has the rare distinction of being the oldest stock exchange of Asia – it was established in 1875. Located on Dalal Street, Mumbai the BSE is also the biggest stock exchange in the world though not in terms of trading amounts but in the number of listed companies. |
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Another distinction of the Bombay stock exchange, Mumbai, is that in terms of market capitalization it ranks tenth in the world and is the largest in South East Asia. Despite all these honours the Bombay Stock Exchange lags behind the National Stock Exchange in trading. The BSE Index is based on a list of top thirty companies that make up one-fifth of the total market capitalization of the stock exchange. Over the years one can see that from the year 1971 these 30 scrips don’t have many changes. |
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Of late however, some new players have edged out some old guards and have captured the top 30 spots and all this is because of the emerging market boom that India has been seeing of late. Another first to the Bombay Stock Exchange is that it is the first exchange in India to list derivatives, such as futures, options, etc. Derivative trading these days is going great guns in the National Stock Exchange and the BSE has virtually not much derivative trading happening nowadays. Bombay Stock Exchange could not grow to the national reach that the NSE has as rules and regulations kept the BSE very much around Mumbai. So on a comparative level the NSE scores big over the BSE. |
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