However, it turned out to be a hoax, police said.
The squad scanned the entire Phiroze Jeejeebhoy Towers , or the BSE building, to ascertain the veracity of the bomb alert.
Armed with sniffer dogs, the police team searched the premises. The search was carried out at every floor of the 30-floor building, sources added.
There were no evacuations and normal business continued at the BSE.
This is the second bomb scare at the BSE building within a month, the last being on November 17, 2005 for which a government school teacher from Jalgaon, 650 km from Mumbai, was arrested.
(Left) Cops at the Bombay Stock Exchange building on November 17 after receiving information that a bomb had been kept there. The alert had been a hoax.
Photograph: Arun Patil