Share Market: The BSE Sensex closed 163.11 points higher at 60,000 points for the first time in history on Friday, while the NSE Nifty rose 30.25 points to end at a record 17,853.20.
Main stock index Sensex crossed 60,000 mark with gains in major stocks like Infosys, HDFC Bank and TCS.
Infosys was the biggest gainer of two per cent in the Sensex. Besides, L&T, HCL Tech, Asian Paints, TCS, Tech Mahindra and HDFC Bank were among the top gainers.
Based on the rally in the market, Santosh Meena, Head of Research, Swastika Investmart, said that the Indian stock market is moving fast, surpassing all concerns, where the Sensex crossed the 60,000 mark. “We are in the same bullish market as it was in 2003-2007, and this is likely to continue for the next 2-3 years,” he said.
On the other hand, Anand James, Chief Market Strategist, Geojit Financial Services, said the Sensex crossed the 60,000-mark after fears of Evergrande debt crisis eased, although the market should keep an eye on the possibility of rate hike.
Sandeep Bhardwaj, CEO (Retail), IIFL Securities said solid economic growth and the expectation of sustained growth over the next few years are encouraging the bulls.
It took a little over 31 years for the Sensex to reach the historic 60,000 mark to the 1,000 mark.
The index was at 1,000 mark on 25 July 1990 and touched the 30,000 mark on 4 March 2015. It took 25 years for the Sensex to touch the 30,000 mark. In the subsequent six years, the Sensex rose from 30,000 to 60,000.
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