Sensex Journey
It has been a historic and memorable journey for the benchmark index Sensex, from touching the 1,000 mark on July 25, 1990 to reaching the 60,000 mark for the first time on Friday. It has taken a little over 31 years for the Sensex to move from the 1,000 level to the now famous 60,000 level.
Over the past few years, the Frontline Index has climbed to several record levels. The index first reached the 10,000 mark on 6 February 2006. On 29 October 2007 it raised the level of 20,000, then on March 4, 2015 the benchmark touched the 30,000 mark. The BSE benchmark reached 40,000 on May 23, 2019. The 50,000 mark was reached on January 21, 2021.
Interestingly, both the 50,000 level and the 60,000 mark have been breached in 2021, which shows the resilience of the market amid the devastation of COVID-19.
From witnessing Harshad Mehta scam in 1992 to Mumbai and BSE building blasts in 1993, Kargil War (1999), terrorist attacks in USA and Indian Parliament (2002), Satyam scam, global financial crisis, demonetisation, PNB scam and COVID – A slide on the “Journey of Sensex” tweeted by BSE CEO Ashish Kumar Chauhan on Friday suggests, 19, The markets have faced many uncertainties over the years.
Commodity boom in global markets, global liquidity, COVID-19 vaccine approval and several healthy triggers along with rollout of vaccination program have also played a major role in rallying the market.
The BSE benchmark index has gained over 25 per cent so far this year. The stock market reached many new highs in August this year. The BSE benchmark had gained over 9 per cent last month.
The remarkable rally in the markets assumes significance as equities went into a tailspin in March 2020, with the BSE benchmark plunging 8,828.8 points or 23 per cent during that month, buoyed by the impact of the pandemic on investor sentiments.
The BSE benchmark had gained 15.7 per cent in 2020, after experiencing a roller-coaster ride during the year hit by the pandemic.
“The sentiment is bullish on D-Street. A drop of a few percentage points would be a good entry opportunity for traders and investors. We are seeing broad-based buying from large-caps to midcaps and smallcaps. Enthusiasm in the market to continue. It is likely.
Read more: Sensex climbs over 350 points to 60,000 level; Nifty 17,900. Above this
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