Sensex hits 75,000, was at 25,000 when PM Modi won 10 years ago
(This story originally appeared in on Apr 10, 2024)
MUMBAI: A little over 38 years after it was launched with a base of just 100 points, BSE sensex, the most watched stock market bellwether in India, crossed the 75,000-point mark on Tuesday, signifying past successes of Indian economy and the market, and raising hopes for more wealth creation in the years ahead.
On Tuesday, sensex opened the session above the 75k mark — at 75,124 points — also its new all-time peak, but some profit-taking at those levels pulled it down to close at 74,684, down 59 points on the day. On NSE, Nifty, too, scaled a new life-time peak at 22,768 points during early trades but closed at 22,643, down 24 points.
The slide was partially owing to investors' nervousness about expected US inflation data due Wednesday, more so after recent high-employment data released last week, said Vinod Nair, head of research, Geojit Financial Services. An uptick in US inflation reading could delay rate cuts by its central bank and put global investors on the backfoot.
For sensex, the 75k milestone came a day after BSE went past a major landmark — scaling the Rs 400-lakh-crore market capitalisation. In the last 10 years, since Modi-led NDA govt came to office, investors' wealth, measured by BSE's market cap, has gone up by five times.
In 10 years, Rupee fell 28%
‘75k to act as springboard for growth’
According to Sarvjeet Singh Virk, co-founder & MD, Finvasia, a tech-driven financial services firm, sensex at 75k not only reflects past
