Stock Exchanges are an organised marketplace, either corporation or mutual organisation, where members of the organisation gather to trade company stocks and other securities. The members may act either as agents for their customers, or as principals for their own accounts.
Stock exchanges also facilitate for the issue and redemption of securities and other financial instruments including the payment of income and dividends. The record keeping is central but trade is linked to such physical place because modern markets are computerised. The trade on an exchange is only by members and stock broker do have a seat on the exchange.
In 1860, the exchange flourished with 60 brokers. In fact the 'Share Mania' in India began when the American Civil War broke and the cotton supply from the US to Europe stopped. Further the brokers increased to 250.
At the end of the war in 1874, the market found a place in a street (now called Dalal Street). In 1887, "Native Share and Stock Brokers' Association" was established. In 1895, the exchange acquired a premise in the street which was inaugurated in 1899.
|Stock Exchange Details||1946||1961||1971||1975||1980||1985||1991||1995|
|No. of Stock Exchanges||7||7||8||8||9||14||20||22|
|No. of Listed Cos.||1125||1203||1599||1552||2265||4344||6229||8593|
|No. of Stock Issues of Listed Cos.||1506||2111||2838||3230||3697||6174||8967||11784|
|Capital of Listed Cos. (Cr. Rs.)||270||753||1812||2614||3973||9723||32041||59583|
|Market value of Capital of Listed Cos. (Cr. Rs.)||971||1292||2675||3273||6750||25302||110279||478121|
|Capital per Listed Cos. (4/2) (Lakh Rs.)||24||63||113||168||175||224||514||693|
|Market Value of Capital per Listed Cos. (Lakh Rs.) (5/2)||86||107||167||211||298||582||1770||5564|
|Appreciated value of Capital per Listed Cos. (Lak Rs.)||358||170||148||126||170||260||344||803|