Sensex hits 75,000, was at 25,000 when PM Modi won 10 years ago
The BSE sensex, India’s most closely watched stock market bellwether, crossed the 75,000-point mark on Tuesday, indicating past successes of the Indian economy and market and raising hopes for future wealth creation. On the NSE, Nifty also reached a new lifetime high of 22,768 points during early sessions before closing at 22,643, down 24 points.
TNN
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.
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According to Sarvjeet Singh Virk, co-founder & MD, Finvasia, a tech-driven financial services firm, sensex at 75k not only reflects past successes of Indian markets but also “acts as a springboard for future growth, instilling confidence in investors who are now poised to embrace the promising journey ahead”.
Among successes of the past decade were India’s move from being a $1.7 trillion market cap economy to a $4.8-trillion one now, setting up one of the world’s fastest settlement systems (T+1), one of the fastest IPO processes that involves retail as well as institutional investors and the most vibrant derivatives trading system in terms of number of contracts.
All these, along with a market system that is increasingly opening up access to even small and medium enterprises to list on the bourses at a reasonable cost, and the rise of the retail investors as a major investing group (through the mutual fund route) give every investor confidence to put their money in the Indian market, industry veterans say.
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