Let's take a moment to appreciate the incredible journey of the Sensex, which breached the 80,000 mark for the first time on July 3, 2024. This remarkable rally saw the Sensex crossing the 80,000 mark on July 3 in the shortest span of just 138 sessions, a journey from 70,000 points completed within six months.
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#market #sensex #nifty #Stockmarket #IndiaStockExchange #NationalStocks #Nifty #Sensexnews #Oneindia #Oneindianews
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NewsTranscript
00:00Oh, the dream run of the Indian stock market and the cheerful ascent of the Sensex.
00:13And we are back with our market talk on a day when the Indian stock markets hit a lifetime
00:19high for the last two consecutive days.
00:21Despite some profit bookings seen today, the Indian markets have seen a remarkable surge
00:27jumping nearly 11% one month after the June 4 election results.
00:31This robust rally has been fuelled by a renewed foreign investor interest in local stocks.
00:37Let's delve into the details.
00:40This marks the strongest post-election surge since May 2019 and May 2014.
00:45In May 2019, the market saw a slight dip of 0.1% one month after the elections, while
00:51in May 2014, this surged by 5.8%.
00:56The most significant gains were observed in May 2009, with markets soaring approximately
01:0122% one month after the election results.
01:05India's benchmark Sensex breached the 80,000 mark for the first time, setting a new record
01:11high on July 4.
01:13The nifty also achieved a fresh lifetime high, closing above the 24,300 mark.
01:18Following the election, both BSC mid-cap and small-cap indices surged significantly with
01:24gains of over 15% and nearly 20% respectively, one month after the event.
01:30Now, let's take a moment to appreciate the incredible journey of the BSC Sensex, which
01:35breached the 80,000 mark for the first time on July 3, 2024.
01:40This remarkable rally saw the Sensex crossing the 80,000 mark on July 3 in the shortest
01:45span of just 138 sessions, a journey from 70,000 points completed within just 6 months.
01:53Here's a quick look at its journey through key milestones.
01:57The Sensex climbed from 10,000 to 20,000 points in 434 days.
02:02It then took 1,822 days, the longest duration to reach 30,000 points from 20,000 points.
02:10From there, it hit 40,000 points in 1,044 days and achieved the 50,000 milestone in
02:17just 415 sessions.
02:19The index continued its upward trajectory, reaching 60,000 points in a swift 166-days
02:25rally and then 70,000 points in 548 days.
02:29Finally, the fastest 10,000-point rally saw the Sensex soar to 80,000 points in just 138
02:36days.
02:37The remarkable performance of the Sensex and Nifty reflects strong investor confidence
02:42and favorable market conditions, both domestically and globally.
02:47Analysts believe that current momentum is likely to continue, especially with the upcoming
02:52Q1 earnings season expected to bring positive results.
02:57The IT sector's recovery and attractive valuations coupled with strong performances
03:02in the banking and auto sectors are likely to keep the markets buoyant.
03:06Moreover, the potential for a US rate cut and upcoming economic indicators domestically
03:11are additional factors that could sustain this rally.
03:15In July, market focus will center on key factors such as the union budget announcements,
03:20progress of the monsoon, inflation expectations, and Q1 FY23 earnings.
03:26Historically, July has shown positive trend in 80% of the instances over the past two
03:32decades.
03:33This trend remains consistent even in election years where budget-related expectations influence
03:38market sentiment.
03:39On average, July has yielded returns exceeding 2%.
03:43That's all for today's market update, stay tuned for more insights and analysis.