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Visit to the Bombay Stock Exchange
On the 29th of January, twenty five students of class XIB accompanied by their teacher Mrs. Sangeeta Kapur, visited the Bombay Stock Exchange for an informative and interactive session on the know hows of the capital market.

The Bombay Stock Exchange now located on Dalal Street was not the original venue for share trading. The first venue was in the vicinity of banyan trees. The stock brokers mostly Parsi and Gujrati businessmen would trade under the banyan trees where Horniman Circle is now situated. The brokers then moved to a permanent location which they called Dalal Street or Broker’s Street.

On our arrival we were met by a rather large crowd as the BSE was introducing a new financial product and it took us a while to get inside the building. We were taken up to the 18th floor where our session would be held. The view from there was breathtaking and made us all want to take out our phones and click pictures but the rules of the BSE prohibited us from doing so. The resource person was Mr. Rakesh Nayar who is one of the faculties of the BSE Institute.

The BSE is the 6th largest, most capitalized stock exchange in the world with a total of 5277 companies listed on the Stock Exchange.

The session started with a briefing about the history of the BSE. We were told of the times when the stock exchange had first come up 138 years ago and the method of trading by the Outcry Method in those days. The trading ring which is now utilized for cultural events and press conferences was the original location for trading of shares.

Mr. Rakesh explained all the main terminologies and jargon used in the stock exchange. He also told us about the fraudulent trade practices which took place in the stock exchange before it was computerized. The brokers would meet and decide about the quantity and price of the shares secretly and used unfair means to raise money to buy the stock which led to the infamous Harshad Mehta and Ketan Parikh scams and the collapse of the Stock Market in early 1990’s.

All of us were really interested in the way Mr. Rakesh spoke dropping examples from time to time using very interesting facts. The school had orchestrated this visit at the perfect time as our commerce monthly test was to be held on the next day and Stock Exchange was the topic for the test.

The part of the lecture that received the most participation was the part related to the training programmes and careers in the Stock Exchange. We were briefed about the Risk Management sector of the BSE. It consists of the analytical half and the administrative half.

After a lengthy question answer session, we were taken to the cafeteria for lunch. After lunch we were taken to the original Trading Ring which is now the Convention Hall. This hall is believed to have the capacity to accommodate 6000 plus people at a time. As Mr. Roy, one of the BSE officials remarked, "There is history written on these walls." It was rightly so. The atrium looked magnificent. Upon the circular framework of the hall were the portraits of the architects of the Stock markets - Mr. KRP Shroff and Mr. Phiroze Jeejeebhoy. After a photograph on the dias, we prepared to depart for home.

The trip had taught us all a lot and showed us a lot about what we had no idea of and most importantly it helped us sail through our commerce monthly test!!!
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Hiranandani Foundation School
Wood Street, Patlipada,
Off Ghodbunder Road,
Thane (West), Maharashtra, India
Tel: +91-22-25867300
Email: hfsthane@hiranandanischools.edu.in
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