The Sensex hit 80,000 during early trade on July 3, 2024. The index which was born on January 1, 1986, has recorded a meteoric rise over the past 10 years coinciding with the year 2014, when the Narendra Modi government assumed power in May.
Since then the Centre has been consciously pursuing a path of reform that has led to the equity markets rising phenomenally. Let’s look at the numbers.
When Sensex crossed 25K in May 2014
2014 was a strong year for the index when it recorded a few milestones.
On May 16, 2014, when the Lok Sabha votes were counted, the Sensex crossed 25,000 for the first time. In short, it means that the index moved up 220% in the 121 months between May 2014 and July 2024.
In 2014, the index reached the 28,000 mark in November.
In January 2015, the Sensex reached 29,000 and touched the 30,000 level in April 2017. By the end of that year, the index moved to 34,000.
The next year 2018 began equally breezily and Sensex touched 35,000 in January, moving from 34,000 to 35,000 in just 16 sessions.
Sensex touched 40,000 in June 2019
In June 2019, before the pandemic struck, the popular broad-based index hit 40,000 mark.
The pandemic could paralyse the rising equity cult on briefly. By December 2020, the index was rising again and reached 45,000.
The gradual waning of the pandemic unleashed Usain Bolt as it were in the Indian equity markets. It took the index a mere two months and the index hit the 50,000 psychological milestone on February 3, 2021.
Bulls take over after COVID pandemic
In the year 2021, the Sensex moved an incredible 10,000 points to reach the 60,000 mark on September 24, 2021.
The journey of the Sensex surpassed all bullish predictions after the pandemic as common people and foreign investors began pumping money in the Indian markets which stood out among the major global economies with its robust domestic markets and reforming economy that improved ease of business conditions.
The Sensex touched 70,000 on December 11, 2023 and the path from 60,000 to 70,000 was covered in 529 trading sessions.
The current year again began breezily. On April 9, 2024, the index hit 75,000 for the first time. And the 80,000 mark was breached on July 3, 2024.
The assurance after bloodbath
This rise happened despite the bloodbath on June 4, when on counting day, the index tanked as much as 6%, when the Bharatiya Janata Party got a weak mandate contrary to the expectations of the investors.
However, after Narendra Modi assumed charge and communicated that his government would continue the policy of reforms, investors, both domestic and foreign rushed back to the markets.
In the past 10 years, the Nifty 50, too, has come a long way. On counting day of 2014, it crossed 7,500 for the first time. On July 3, 2024 morning, it stood at 24,300.
Sensex @80000: The Sensex took only 121 months to climb from 25,000 to 80,000. The question to ask is, how long will the bull run continue? Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
