Journey of Sensex: From 1,000 to 60,000 in over 31 years


PTI | New Delhi | Updated: 24-09-2021 14:25 IST | Created: 24-09-2021 14:21 IST
Journey of Sensex: From 1,000 to 60,000 in over 31 years
Representative Image Image Credit: ANI
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From hitting the 1,000-mark on July 25, 1990, to reaching the 60,000-mark for the first time on Friday, it has been a historic and memorable journey for the benchmark index Sensex.

It has taken a little over 31 years for the Sensex to traverse from 1,000 level to the famed 60,000 level now.

Over the years, the frontline index has climbed several record levels. The index had reached the 10,000-mark for the first time on February 6, 2006.

On October 29, 2007, it scaled the 20,000 level, then on March 4, 2015, the benchmark hit the 30,000-mark.

The BSE benchmark scaled 40,000 on May 23, 2019. The 50,000-mark was reached on January 21, 2021.

Interestingly, both the 50,000 level and 60,000 marks have been breached in 2021, showing the resilience of the market amid the COVID-19 devastation.

From witnessing the Harshad Mehta scam in 1992 to blasts in Mumbai and BSE building in 1993, Kargil war (1999), terror attacks in the USA and Indian Parliament (2001), Satyam scam, global financial crisis, demonetization, PNB scam, and COVID-19, markets have faced many uncertainties over the years, suggests a slide on ''Journey of Sensex'' tweeted by BSE CEO Ashish Kumar Chauhan on Friday.

Several healthy triggers have also played a major role in the market uptrend, with the likes of the commodity boom in global markets, global liquidity, COVID-19 vaccine approval, and rollout of the vaccination program.

The BSE benchmark index has gained over 25 percent so far this year.

In August this year, the stock market reached many new highs. The BSE benchmark soared over 9 percent last month.

The remarkable rally in the markets holds significance as equities had gone into a tailspin in March 2020, with the BSE benchmark sinking a massive 8,828.8 points or 23 percent during that month as concerns over the pandemic impact on the economy ravaged investor sentiments.

The BSE benchmark had gained 15.7 percent in 2020, after facing a roller-coaster ride during the year hit by the pandemic.

''The sentiment on D-street is bullish. A dip of a couple of percents would be a good opportunity for traders and investors to enter.

''We are witnessing broad-based buying from large-caps to midcaps and small caps. The euphoria in the market is likely to continue. It may extend till January-February 2022. Though the volatility is likely to witness an uptick,'' said Brijesh Bhatia-Senior Research Analyst at Equitymaster.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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