"Indian stock market"-Evolution

"Indian stock market"

The English (East India Company), who came to India to trade, planted the seeds of his future. By 1840 (a good 160 years back), there were registered companies trading in the market with half a dozen recognised brokers. By 1860, there were 60 brokers!

The first stock market mania in India happened then. The civil war broke out in the US and India was the only supplier of cotton to the world! By 1861, there were 250 brokers.The civil war ended in 1865 and there was a big slump in the market. The Bank of Bombay share, which traded at a princely price of Rs2,850 crashed to Rs87 in no time.
After the slump, the brokers decided to regulate themselves. As a first step, they moved in together to stay as a flock on one street--that street is today known as "Dalal Street". Year 1899 is when the Bombay Stock Exchange was formed.