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Dalal Street Source: en.wikipedia.org/wiki/Dalal_Street

Dalal Street
Dalal Street Sign
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Websitewww.dsij.in

Dalal Street (Marathi: dalāl gallī), (Hindi: dalāl path) [1] is the metonym for the financial markets of India, the Indian financial services industry of the country as a whole, or the actual financial district itself.[2] It is located in the Financial District of Fort in Mumbai and is the address of the Bombay Stock Exchange and several other major financial institutions of the world. The Marathi word dalāl means "a broker", "a go-between".[3]

18°55′46.08″N 72°49′59.12″E / 18.9294667°N 72.8330889°E / 18.9294667; 72.8330889

The Bombay Stock Exchange on the Dalal Street

In 2008, there was a proposal to rename the street after Nagarmal Saraf, a broker who worked at the BSE for 25 years.[4]

History

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In the 1850s, indigenous brokers traded informally under banyan trees near Horniman Circle, Mumbai. In 1875, these brokers formed the "Native Share & Stock Brokers’ Association", marking the genesis of the BSE and cementing the identity of Dalal Street as a financial hub. [5]

In 1957, the BSE became the first Indian stock exchange officially recognised by the Government of India under the Securities Contracts (Regulation) Act.[6]

During the late 1970s, the BSE commissioned a new 29-storey tower—completed in 1980—designed by Chandrakant Patel. It was subsequently named *Phiroze Jeejeebhoy Towers* after the late BSE chairman, and continues as the exchange’s headquarters.[7]

Significance

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Dalal Street is synonymous with India’s financial markets, comparable to “Wall Street” in the United States, primarily due to its role as the home of the BSE and its index, the SENSEX It also hosts major regulators like the Securities and Exchange Board of India (SEBI) and many brokerage firms.[8]

SEBI was established in three phases: as a non-statutory body in 1988, as a statutory board in January 1992, and under the SEBI Act following the 1992 legislative framework.[9]

Notable Landmarks

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  • **Phiroze Jeejeebhoy Towers**: Completed in 1980, this tower is one of Mumbai’s earliest skyscrapers and houses the BSE headquarters. [7]
  • **Trading Floors**: Both BSE and NSE operate electronic trading systems from premises on or around Dalal Street, reflecting India’s shift from open outcry to screen-based trading in 1995.[10]

In the media

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The Mumbai based video game Mumbai Gullies is expected to feature the Dalal Street in the fictional map.[11][12]

See also

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References

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  1. ^ James Chen. "What Is Dalal Street?". Dotdash Meredith.
  2. ^ James Chen. "What Is Dalal Street?". Dotdash Meredith.
  3. ^ McGregor, R. S. (1993). Oxford Hindi-English dictionary. Oxford: Oxford University Press. ISBN 978-0-19-864317-3.
  4. ^ Suryawanshi, Sudhir (3 March 2008). "Brand new threat to Dalal street". Mumbai Mirror. Archived from the original on 14 December 2023. Retrieved 14 December 2023.
  5. ^ "Annexure – A: Committee Report" (PDF). SEBI. Retrieved 16 June 2025.
  6. ^ "History and Milestones". Bombay Stock Exchange. Retrieved 16 June 2025.
  7. ^ a b "Phiroze Jeejeebhoy". Gazette of India. Retrieved 16 June 2025.
  8. ^ "Contact Us - SEBI". SEBI. Retrieved 16 June 2025.
  9. ^ "About SEBI". SEBI. Retrieved 16 June 2025.
  10. ^ "BSE On‑Line Trading (BOLT) system introduced". BSE. Retrieved 16 June 2025.
  11. ^ "What is Mumbai Gullies?". GameEon. 27 November 2020. Archived from the original on 5 April 2023. Retrieved 18 September 2021.
  12. ^ Ray, Bodhisatwa (19 January 2021). "Mumbai Gullies, a GTA styled game from an Indian developer, set to launch soon". TechRadar. Retrieved 18 September 2021.
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