Brokering trade took almost 10 years to revive itself, since the market crash in 1865 after American Civil War. It was after they realized that they should do the business in an organized manner in order to protect their own interests and earn respect in public as well. Therefore they set up the Stock Exchange in the year 1875. So the first stock exchange of India was born and it was named - "The Native Share and Stockbroker Association". It was intended to be a voluntary and non-profit institution. The association started with 318 members. And it was Premchand Roychand who formed the rules and regulations of the association.
Prior to the inauguration of Broker's Hall in 1899, the rules and regulations of Stock Exchange were re-framed in 1887 under a charter along with objectives, which is still in practice. The objective was to protect the interest of investors and members, to establish regulation and practice of honest and justified transactions, and to promote country's industrial development by means of efficient resource mobilization through investment in corporate securities.
In 1920's, the exchange was shifted to a new location, near the Town Hall. The location of present Bombay Stock Exchange came into being in 1930. The other two exchanges came into existence during this time, one was Ahmedabad and the other one was Calcutta (now Kolkata). The contribution that cotton textile industry made to formation of Bombay Stock Exchange was similar to what Jute, Tea and Coal industry conferred to Calcutta Stock Exchange.
The Madras (now Chennai) Stock Exchange was ephemeral, as it opened in 1920 and went out of business in 1923. Although in 1930's southern India did observe a accelerated growth of industries with the establishment of contemporary textile industries coupled with other companies. Thus the Madras Stock Exchange came back into existence in the year 1937.
In the midst of 30's Lahore (then in India) also established its own Stock Exchange in the year 1934, which subsequently merged with Punjab Stock Exchange.
During the beginning II World War, the Indian equity market uphold a growth for a terse period, which lasted too soon owing to the confining control and regulations imposed by government. It was only after 1943, when India grew into an inventory and supply abode, the equity market saw a surge in its stock prices. This turnaround led to the formation of new exchanges on Uttar Pradesh and Nagpur in the year 1940 and Hyderabad in 1944.
And finally in 1947, Delhi Stock Exchange came into existence with the merger of Share Exchanges Limited and Delhi Stock and Share Brokers' Association Limited.
Know more about what happened to Share Market after Independence
Prior to the inauguration of Broker's Hall in 1899, the rules and regulations of Stock Exchange were re-framed in 1887 under a charter along with objectives, which is still in practice. The objective was to protect the interest of investors and members, to establish regulation and practice of honest and justified transactions, and to promote country's industrial development by means of efficient resource mobilization through investment in corporate securities.
In 1920's, the exchange was shifted to a new location, near the Town Hall. The location of present Bombay Stock Exchange came into being in 1930. The other two exchanges came into existence during this time, one was Ahmedabad and the other one was Calcutta (now Kolkata). The contribution that cotton textile industry made to formation of Bombay Stock Exchange was similar to what Jute, Tea and Coal industry conferred to Calcutta Stock Exchange.
The Madras (now Chennai) Stock Exchange was ephemeral, as it opened in 1920 and went out of business in 1923. Although in 1930's southern India did observe a accelerated growth of industries with the establishment of contemporary textile industries coupled with other companies. Thus the Madras Stock Exchange came back into existence in the year 1937.
In the midst of 30's Lahore (then in India) also established its own Stock Exchange in the year 1934, which subsequently merged with Punjab Stock Exchange.
During the beginning II World War, the Indian equity market uphold a growth for a terse period, which lasted too soon owing to the confining control and regulations imposed by government. It was only after 1943, when India grew into an inventory and supply abode, the equity market saw a surge in its stock prices. This turnaround led to the formation of new exchanges on Uttar Pradesh and Nagpur in the year 1940 and Hyderabad in 1944.
And finally in 1947, Delhi Stock Exchange came into existence with the merger of Share Exchanges Limited and Delhi Stock and Share Brokers' Association Limited.
Know more about what happened to Share Market after Independence
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