All businesses need to raise finance to run a business

Jun 27th, 2015
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History of Indian Capital Market The history of the capital market in India dates back to the eighteenth century when East India Company securities were traded in the country. Until the end of the nineteenth century, securities trading was unorganized and the main trading centres were Bombay(now Mumbai) and Calcutta (now Kolkata). Of the two, Bombay was the chief trading centre wherein bank shares were the major trading stock. During the American Civil War (1860-61). Bombay was an important source of supply for cotton. Hence

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Chapter-3Indian Capital Market3.1History of Indian capital market.3.2A Historical perspective of the securities market70reforms in India753.2.1First the appetizer753.2.2The side dish A brief history763.2.3Main Course fast forward to 1990s783.2.4Deserts Road ahead86693.1History of Indian Capital MarketThe history of the capital market in India dates back to the eighteenthcentury when East India Company securities were traded in the country. Untilthe end of the nineteenth century, securities trading was unorganized and themain trading centres were Bombay(now Mumbai) and Calcutta (now Kolkata).Of the two, Bombay was the chief trading centre wherein bank shares werethe major trading stock. During the American Civil War (1860-61). Bombaywas an important source of supply for cotton. Hence, trading activitiesflourished during the period, resulting in a boom in share prices. This boom,the first in the history of the Indian capital market, lasted for a half a decade.The first joint stock company was established on 1850. The bubble burst onJuly 1, 1865, when there was tremendous slump in share prices.Trading was at that time limited to a dozen brokers, their trading placewas under a banyan tree in front of the Town Hall in Bombay. Thesestockbrokers organized an informal association in 1875-Native Shares andStock Brokers Association. Bombay. The stock exchanges in Calcutta andAhmedabad, also industrial and trading

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