Opening on April 9, the Sensex was 75,124.28, a gain of 382 points. The index has already surged up 5,000 points in only 82 days. In December 2023, the Sensex surpassed the 70,000 milestone.
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On April 9, the Sensex crossed the 75,000 mark for the first time, just a day after the total market capitalization of all BSE-listed companies in India’s stock market topped Rs 400 trillion. The NSE Nifty 50 also reached a new high by rising over 22,750.
At opening, the Sensex was up 382 points at 75,124.28. The index had its most recent surge of 5,000 points in only 82 days. In December 2023, the Sensex had previously surpassed the 70,000 threshold. In the last year, it has increased by more than 25%, and in the previous six months, by more than 14%.
The markets are growing as a result of several causes. A strong GDP, factors driving credit expansion, and continued policy are some of the main causes, according to WealthMills Securities Director of Equity Strategy Kranthi Bathini.
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When the Sensex initially reached the 5,000 level in 1999, it took about 1,588 days—more than 4 years—to double to the 10,000 level.
This most recent milestone is the index’s fourth fastest growth to date. The Sensex reached 60,000 in September 2021 after increasing by 5,000 points in just 28 days. The Sensex previously reached the 50,000 milestone in 33 days in January 2021.
The majority of sectors have enjoyed advances during the past 82 days. The stocks of capital goods, autos, energy, telecommunications, and real estate have all contributed significantly to this surge. The BSE Telecommunications Index is up 21.43 percent, the BSE Energy Index is up 27.25 percent, the BSE Realty Index is up around 26.66 percent, and the BSE Auto Index is up about 23.4 percent.
Maruti Suzuki, Reliance Industries, and Mahindra & Mahindra were among the top gainers on the Sensex on April 8. During the early trading hours of April 9, Tata Steel, Infosys, and JSW Steel have been among the top gainers.
Now, where is the Sensex heading? Will growth keep going?
Experts are still optimistic about the Indian economy. From domestic institutional investors to individual investors and overseas portfolio investors who have been anxiously waiting to participate in Indian markets, Bathini claims that there is a consensus on the Indian economy throughout the globe. The enthusiasm has been fueled by this. “The earning season is about to begin. Thus, whether or not we can continue at this level will depend on the earnings season and the company’s forecast, he continued.
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