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One of the reasons why Mumbai is called the financial capital of India is because it is home to the country’s stock exchange, called the BSE (Bombay Stock Exchange). Located in South Mumbai’s Dalal Street, it is the 11th largest stock market in the world by market capitalisation. While it has a glorious present, it has humble roots and it traces its roots to 1855, when four Gujarati and one Parsi stockbroker would gather under banyan trees facing the city’s Town Hall. The location of these meetings was never fixed but as the number of brokers grew, they formed an organisation called 'The Native Share & Stock Brokers Association' and moved to Dalal Street. In 1958, BSE become the first stock exchange to be recognized by the Indian Government and in 1980 it moved to Phiroze Jeejeebhoy Towers in Dalal Street where it presently stands
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