The Spectacular Journey of Index

The Spectacular Journey of Index
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Amid the COVID-19 devastation, the rally in the domestic market continues as both the 50,000 level and 60,000 mark have been breached in 2021. Sensex has gained 64.90% or 23,717 points and Nifty has risen 65.68% or 7,098 points in one year. Although a big number of retail investors are still trying to sink this surprising move as the majority of Midcap and Smallcap stocks are nowhere seen running with the Index speed. However, strong inflows by FIIs/DIIs, falling Covid-19 cases, and positive global cues are the main catalyst.

Last Friday, the benchmark Sensex has ultimately breached the psychological 60,000-mark while recording its fastest 10,000-points rally to date. The 30-share barometer took a total of 166 trading sessions to move from 50,000 to 60,000. The index had touched the 50,000-mark early this year on January 21.

The index had taken 415 sessions to move from 40,000 to 50,000 whereas most of the earlier similar rallies have taken more than 1,000 days with the only exception being when the index moved from 10,000 to 20,000 in 432 trading sessions between February 2006 and October 2007.

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.

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.

The BSE benchmark index has gained over 25 percent so far this year. The BSE benchmark had gained 15.7 percent in 2020, after facing a roller-coaster ride during the year hit by the pandemic.

This is how Nifty moved

  • The Nifty50 index first touched 7,000 on May 12, 2014
  • Scaled to 8,000 on September 1, 2014
  • Inched to 9,000 on March 3, 2015
  • Rose to 10,000 mark on July 25, 2017
  • Tested 11,000 mark on January 23, 2018, for the first time
  • Reached the milestone of 12,000 on May 23, 2019
  • Tested 13,000 level on November 24, 2020, for the first time
  • Surged to 14,000 mark on December 31, 2020
  • Touched 15,000 level on February 05, 2021
  • Climbed to 16,000 level on August 3, 2021
  • Surged to 17,000 mark on August 31, 2021, the fastest-ever 1,000-point gain
  • Nifty made a record peak of 17,947 on Friday, 24, 2021
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IE&M Team
Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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