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Stock broking has witnessed tremendous growth in the past years. The event held on July 25th was well received by the members. Following a summary of this event. The entire stock market ran on trust and there were no brokerage firms, just individual brokers.
He also described how the face to face deal making happened, how physical negotiation was the norm, how panic trades were managed and how a good broker had the status of a demi-god. The formation of NSE paved way towards a new era in the stock market. NSE really fought against the established Bombay Club of brokers and won.
Demat format, electronic and online trading was introduced and it started to gain momentum in the early s. Despite the inroads created by the NSE in the stock market, the transactions were very less in the s and s as compared to today. For instance, the average turnover of a single day presently is equal to that of 1 year transaction in and two day turnover today is equal to that of 1 year transaction in Another key change that was witnessed in the post era was the creation of corporate brokerage firms.
Individual stock brokers such as Motilal and Uday Kotak became corporate houses. This period also saw the evolution of settlement dates. Other significant events that marked this era were the dot com burst, the Katen Parek scam and the introduction of derivatives in The session ended with a networking dinner.
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