BSE @80,000: Exploring the Journey and Significant Milestones
The Sensex on 4th July closed beyond the 80,000 level for the first time. It had hit the 75,000 mark on May 23, 2024. This number is more than just another figure. It is a testament to the robust growth and enduring confidence in the Indian stock market.
In this blog, we will look at the significant milestones that brought the BSE Sensex to this historic point.
The Beginnings of BSE Sensex
On January 1, 1986, the Bombay Stock Exchange introduced the BSE SENSEX as its benchmark index. The Sensex, short for the S&P BSE Sensex, denotes the most popular market index consisting of 30 companies listed on the Bombay Stock Exchange.
Today, this index includes some of the country's largest companies with the most actively traded stocks. The S&P BSE Index Committee selects BSE Sensex companies based on five criteria:
1. must be listed on the Bombay Stock Exchange in India,
2. must consist of large or mega-cap stocks,
3. must have relatively high liquidity,
4. must generate earnings from core activities, and
5. contribute to keeping the sector balanced within the country's equity market.
Since its inception in the 1990s, the Sensex has experienced rapid growth, particularly after 2000. Notably, in 2002, the index surpassed the 6000 mark for the first time, propelled by information technology companies.
Key Milestones in Sensex History
Here are some significant milestones in the BSE Sensex share price history:
| Date: | Milestone |
|---|---|
| July 1990 | The Sensex achieved its first 1,000-point rise after over 4 years since its inception, taking 970 sessions. |
| October 1999 | Sensex reached the 5,000 mark, marking 13 years since its inception. |
| February 2006 | Sensex crossed the 10,000 mark for the first time, just 7 years after its inception. |
| September 2007 | Sensex hit the 15,000 mark, followed by reaching the 20,000 mark in December of the same year. |
| February 2021 | The index reached the 50,000 milestone. |
| September 2021 | A 10,000-point surge pushed Sensex to the 60,000 mark. |
| July 3, 2023 | Sensex hit 65,000 and surpassed both 66,000 and 67,000 marks in the same month. |
| December 2023 | Three more milestones of 70,000, 71,000, and 72,000 levels were achieved. |
| January 15, 2024 | Sensex reached the 73,000 mark for the first time. |
| March 6, 2024 | The index surpassed the 74,000 mark. |
| July 9, 2024 | Sensex closed beyond the 80,000 level for the first time ever. |
Conclusion
The crossing of 80,000 by the SENSEX marks a moment of pride and has become a key indicator of the market’s optimistic trajectory. It highlights not only the growth of the companies that make up the Sensex but also the increasing depth and maturity of the Indian stock market. Moving forward, the Sensex remains a critical gauge for investors and a beacon of India's economic potential on the global stage.
