History Today: When the Bombay Stock Exchange was established

The Bombay Stock Exchange is the focus of all business in India. Asia’s oldest and one of the world’s largest stock exchanges was established on July 9, 1875.

If you are a history geek who loves to learn about important events from the past, Firstpost Explainers’ ongoing series, History Today , will be your one-stop destination to explore key events.

It was on this day in 1962 that Andy Warhol’s “Campbell’s Soup Cans” made their debut in Los Angeles, marking a turning point in modern art. In 1877, the first-ever Wimbledon tennis tournament began on the lawns of the All England Croquet and Lawn Tennis Club in Wimbledon, London.

Here is all that took place on this day across the world.

The Bombay Stock Exchange was established

The Bombay Stock Exchange (BSE) was established on July 9, 1875, making it one of the oldest stock exchanges in the world. While it was formally established on July 9, BSE’s history began nearly two decades earlier in the 1850s. A group of stockbrokers would gather under a banyan tree in front of Mumbai’s Town Hall to trade shares. This informal group, led by astute businessman Premchand Roychand, evolved into an organised institution, initially known as “The Native Share and Stock Brokers’ Association.”

The exchange initially operated out of various locations before moving to its permanent home at Dalal Street in Mumbai, which continues to remain the BSE’s headquarters. In 1956, the BSE achieved significant recognition, becoming the first stock exchange in India to be granted permanent recognition under the Securities Contracts Regulation Act.

The BSE played a crucial role in the development of India’s capital markets, enabling companies to raise funds and investors to participate in wealth creation. Over the years, the exchange witnessed numerous economic, political and regulatory changes from the colonial era through post-independence liberalisation. In 1986, the BSE introduced the Sensex (Sensitive Index), India’s first equity index, which tracks 30 financially sound and actively traded stocks from various sectors. The Sensex became a key benchmark for market performance in India and a barometer of investor sentiment.

The BSE was also the first exchange in India to be recognised under the Securities Contracts (Regulation) Act, 1956, and the first to introduce a fully electronic trading system in 1995, called Bolt (BSE Online Trading).

‘Campbell’s Soup Cans’ make their debut

July 9, 1962, is an important day in the history of the art world as Andy Warhol’s “Campbell’s Soup Cans” made their debut at the Ferus Gallery in Los Angeles. This exhibition marked Warhol’s first solo show and a pivotal moment for the burgeoning Pop Art movement in the United States.

The collection consisted of 32 canvases, each meticulously hand-painted to depict a different variety of Campbell’s condensed soup, corresponding to the flavours offered by the company at the time. Warhol displayed them in a single line on shelves, mimicking the arrangement found in a grocery aisle, deliberately blurring the lines between commercial product and fine art.

At the time, Warhol’s work was both controversial and revolutionary. Rather than portraying traditional fine art subjects like landscapes or portraits, Warhol celebrated everyday consumer products, challenging the distinction between high art and popular culture. By choosing a humble supermarket item, Warhol questioned what could be considered art in a rapidly commercialising world.

Warhol originally planned to paint them all by hand, but later used a silkscreen technique to further mimic mechanical reproduction, a hallmark of his style. Over time, the Campbell’s Soup Cans became one of the most iconic series in art history. Today, they are housed in the Museum of Modern Art (MoMA) in New York and studied as a bold expression of 20th-century visual culture.

Wimbledon tournament began

The prestigious Wimbledon Championships began its history on July 9, 1877. The oldest tennis tournament in the world began with the Gentlemen’s Singles tournament that was organised by the All England Croquet and Lawn Tennis Club.

Twenty-two amateur male players paid a guinea to enter this pioneering competition. The rules of lawn tennis, formalised just a few years prior by Major Walter Clopton Wingfield, guided the matches. The first champion to emerge from this historic tournament was Spencer Gore, who defeated William Marshall in the final. The match, delayed by rain, was eventually played on July 19 before a modest crowd of about 200 spectators, each paying a shilling for entry. Matches were played on grass courts , and players had to wear all white, a tradition that still continues.

Over the years, Wimbledon has become known not only for its elite-level tennis but also for its unique traditions, including strawberries and cream, the all-white dress code and a strict adherence to grass courts, which sets it apart from other Grand Slam tournaments.

This Day, That Year

• On this day in 2011, South Sudan declared its independence after a referendum to secede from Sudan passed overwhelmingly.

• The British TV series ‘The Office’ debuted on this day in 2001.

• The first of a class of US nuclear-powered attack submarines, the Thresher, was launched in 1960.