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 reach the famous level of 1,000 to 60,000.
Over the years, the front-line index has climbed to several record levels.
The index first reached the 10,000 mark on 6 February 2006. It touched the 20,000 level on 29 October 2007; Then on March 4, 2015, the benchmark hit 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.
eventful history
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 -19, markets have faced several uncertainties over the years, suggests a slide on the “Journey of Sensex” tweeted by BSE CEO Ashish Kumar Chauhan on Friday.
Commodity boom in global markets, global liquidity, COVID-19 vaccine approvals and several healthy triggers along with rollout of vaccination program have also played a major role in the market’s uptrend.
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.
covid tailspin
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.
See more: Sensex staggered after crossing 60 thousand, Nifty remained below 17,900
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 strong on D-Street. A drop of a few percent would be a good opportunity for traders and investors to enter.
“We are seeing broad-based buying from large-cap to mid-cap and small-cap. The enthusiasm in the market is likely to continue. This may extend to January-February 2022. However, volatility is likely to pick up,” said Brijesh Bhatia, senior research analyst at EquityMaster.
Following are some of the major market trends in 2021:
* January 21: BSE benchmark Sensex touches the crucial 50,000 mark in intra-day trade on January 21, 2021
* February 3: Closes above 50,000 for the first time
* February 5: Crosses 51,000 mark in intra-day trade
* February 8: Ends above 51,000-level
* February 15: Rallies above 52,000
* June 22: Reaches 53,000 mark in intra-day trade
* July 7: Closes above 53,000 mark for the first time
* August 4: Benchmark crosses 54,000 for the first time in intra-day trade and also closes above this mark
*August 13: Rallies above 55,000 for the first time and also closed above this level
* August 18: Crosses 56,000 mark for the first time in intra-day trade
* August 27: Closes above 56,000
* Aug 31: Crossed 57,000 in intra-day trade and also closed above this level; Market capitalization of companies listed on BSE reaches Rs 250 lakh crore
* Sep 3: 58,000-mark in intra-day trade and closes above this milestone
*September 16: Reached 59,000 mark for the first time in intra-day and close of trade; Market capitalization of companies listed on BSE crosses Rs 260 lakh crore
*September 24: Reached 60,000 mark at intra-day and end of trade
So far this year, the benchmark index has gained 12,297.14 points, or 25.75 per cent.
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