A bourse is born

In capital market which lives in the instant, five years is a long time. But in the long life of a stock exchange, which is usually built for the eternity, time can shrink; more so when you look back. A journey that began in 2008 will conclude for MCX Stock Exchange (SX) in Mumbai today as Finance Minister P Chidambaram flags off equity trading. Another one will begin as a Motilal Oswal report expects SX to capture a quarter of the equities market by 2015. Not very long ago, this day seemed very far away as it was engaged in a bitter and protracted legal battle with Sebi over ownership issues. A look at the rugged road SX rode and the one that lies ahead for it. (Click on graphics)