Introduction
A 'Financial Market' is a mechanism that allows people to buy and sell or
trade financial securities such as stocks and bonds. Indian financial market is one of
the oldest markets in the world with the Bombay Stock Exchange (BSE) starting in
In the 1850s, when 4 Gujarati and 1 Parsi stockbroker would gather under banyan trees in
front of Mumbai's Town Hall and do business. The group eventually moved to Dalai
Street in 1874 and in 1875 became an official organization known as 'The Native
Share & Stock Brokers Association. In 1956, the BSE became the first stock
exchange to be recognized by the Indian Government under the Securities Contracts
Regulation Act.