Mumbai: The BSE (Bombay Stock Exchange) sensex recorded a historic high on Wednesday (July 3) by hitting the 80,000-mark for the first time since its inception in January, 1986.
What’s even more remarkable that the milestone was reached in barely 58 sessions. These sessions also included a special live trading session on May 18, after reaching the 75,000-mark on April 9 earlier this year. The BSE Sensex jumped by as much as 632.85 points to reach 80,074.30 in intra-day deals. Meanwhile, the Nifty also recorded a new high of 24,307.25 in intraday deals after gaining 183.4 points.
Banking on the banking sector
The feat was achieved by strong gains in the banking shares and financial services indices, especially HDFC Bank that surged 4 per cent to Rs 1794 levels. The Nifty Bank and Nifty Financial Services surged around 2 per cent each in intra-day deals. The Nifty Private Bank index also increased 2 per cent. The PSU Bank index rose by 0.65 per cent. Besides, auto, metals, FMCG, pharma, and realty also saw increased buying activities. The gains were also strongly backed by the FMCG sector. Stocks of Britannia Industries, Zydus Wellness, Mrs. Bectors Food Specialities, Tata Consumer Products, Nestle India and Dabur India rose up to 2 per cent.
The highs in 2024, so far
On April 9, the Sensex first touched the 75,000 milestone. There was a steady climb to the 76,000-mark on May 27. In June, it breached three significant levels. On June 10, the Sensex crossed the 77,000-mark. In just 15 days, it further crossed the 78,000-mark on June 25. In barely two days, it surged 79,000 points on June 27.
Looking back
Here’s how the sensex exhibited growth and resilience since January 1986, its inception, amid fluctuations and downturns (especially during 2008 financial crisis and the 2020 pandemic):
January 1986: It touched 550 points.
July 1990: After about 970 sessions, it recorded its first 1,000-point rise
October 1999: 13 years after its introduction, the Sensex hit the first 5,000-mark
February 2006: It crossed 10,000 points for the first time. It was followed by reaching the 11,000, 12,000, and 13,000-marks in the same year.
September, December 2007: Despite global financial disruptions, the Sensex touched 15,000 points in September, 2007 and 20,000 points in December, the same year.
March, 2014: It touched the 22,000-mark in March 2014. It rose to 28,000 points by November.
Between 2015 and 2018: The 29,000-mark was reached in January 2015. It rose to 30,000 in April 2017, followed by 34,000 in December. In January 2018, it surged to 35,000.
Pre-Covid: The Sensex gained 5,000 points in 1.5 years to hit the 40,000-mark in June 2019.
The pandemic: Defying the pandemic slowdown, it surged to 45,000 in December 2020 and it reached 50,000 by February 2021. By September 2021, it jumped to 60,000.
Comeback 2023: It took over 1.5 years to reach from 60,000 points in 2021 to 65,000 in July, 2023. Within the same month, it crossed the 66,000 and 67,000 marks. It reached 69,000 points in December, 2023, and moved on to achieve the milestones of 70,000, 71,000, and 72,000 marks the same month.
Upward swing in 2024: The BSE index continued its upward journey by reaching 73,000 on January 15, 2024, followed by 74,000 on March 6, 2024, and 75,000 on April 9, 2024.
