FY24 share market review: Sensex jumps 25% past year. Can it go beyond 84,000 in fiscal 2024-25?
BSE Sensex ended the last day of financial year 2024 (Thursday, March 28) on a higher note with gains of about 655.04 points, or 1%, at the 73,651.35 level. During the fiscal year 2024 (FY24), the S&P BSE Sensex index has touched multiple record highs, and the market capitalisation of BSE-listed companies surpassed ₹333 lakh crore, or $4 trillion, for the first time ever in November 2023.
The BSE Sensex has had the second-largest rise of 24.85% during the span of five years in FY24; the largest gain of 68.01% was recorded in FY21. The S&P BSE Sensex saw a mere 0.72% rise in FY23.
“The Sensex has been displaying an upward trend since 2016, characterised by a consistent formation of higher highs. Since the COVID-19 low, the index has experienced a remarkable increase of 187%.
In the recent financial year 2023-24, the index recorded a 25% increase, with 9 out of 12 months ending positively," said Kapil Shah, Technical Analyst, Emkay Global and Technical Trainer, Finlearn Academy. Market experts believe FY24 was an outstanding year for the Indian stock markets, with the BSE Sensex seeing an incredible rise of about 24%, outperforming prior years' performance and generating investors with substantial wealth.
This growth outpaced that of many global counterparts, showcasing the market's resilience and strength, pointed out Vinit Bolinjkar, Head of Research, Ventura Securities Ltd. Also Read: FY24 market review: 120 stocks from Nifty 500 gave multibagger returns, 55 in the red; check list of top gainers, losers "Exciting news! Mint is now on WhatsApp Channels
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