2024-07-04 18:59:05
New Delhi: The country’s benchmark index Sensex reached 80,000 points on Wednesday. It had reached 70,000 points in mid-December and it took only 139 days to reach 80,000 points. Sensex has achieved this height in record time. During this period, 20 out of the BSE 500 stocks became multibaggers. This list includes government companies like Cochin Shipyard (254%), HUDCO (205%), Bharat Dynamics (135%), RVNL (131%) and Oil India (128%). Also included are Hitachi Energy, OFS, Schneider Electric Infrastructure, Amara Raja Energy & Mobility, Jupiter Wagons, IRFC, TVS Holdings and Mazagon Dock Shipbuilders. Market data shows that the Sensex first touched the 10,000 mark in February 2006 and took 463 days to reach the 20,000 mark. The next 10,000-point gain came after 2,318 days in April 2017. The Sensex took 520 days to reach 40,000 from 30,000 and reached the 50,000 milestone after 416 days. It then reached 60,000 in just 158 days. It then took 548 days to add the next 10,000 points.
Sensex crosses 80,000 for the first time, Nifty nears 24,500, which stocks did wonders!
what the experts say
Nilesh Shah of Kotak Mahindra Mutual Fund said, “The milestones of the Sensex are a journey, not a destination. It still has to go far ahead and far behind. The Nasdaq had gone so far that it took 17 years to come back to its previous peak. Invest in the market according to your risk-taking capacity, have a long-term view, keep your return expectations fairly low and follow the religion of asset allocation.” Nearly 16 years ago, when Lehman Brothers collapsed in the US, the Sensex was at 8,800.
Shrikant Chauhan of Kotak Securities said that there has been a nine-fold return in 16 years. However, four years ago at the time of Covid, it was at 26,000. Today it seems unimaginable but it is true. This gives confidence that equity markets have performed well in the long term, we need patience and confidence while investing and even after that. Continue to invest systematically in equities from a long-term perspective based on the current domestic macro.