Sensex journey from 3,000 to 60,000: Check full timeline, know what market analysts have to say

Sensex at 60,000: For the first time in the history of the Indian market, the BSE Sensex has breached 60,000-mount on Friday. The benchmark index took the shortest-ever time of 233 days to achieve this feat from the 50,000-mark that was hit earlier this year on February 3, 2021.

The second shortest rally was of 611 days, wherein the BSE Sensex climbed to 50,000-mark from 40,000 levels, this rally was mostly pumped by the unlock theme the country witnessed after the coronavirus led lockdown was revoked in the second half of 2020.

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While it took 671 days to touch the 20,000-mark in history, which is the third shortest time for a rally of 10000 points. On the contrary, the BSE Sensex took over 15 years to touch 10000 levels from the late 90s to early 2000. Similarly, it took 9 years to grow 30000-mark during its journey so far.

The rally in the Sensex is largely led by the global markets, mostly the US markets. In this regard, the market expert and author Basant Maheshwari says, “We (Indian market) are in such a speed boat, whose remote control is in America (US market), and if they press overdrive, we run or they press brake, we stop.”

Maheshwari suggests investors if the view is of around 12, months there is nothing to worry about a downside, however, for 3 to 6 months’ view, no one can predict what would happen, as Indian markets are purely leading on the back of strong global cues.

IIFL Securities – Retail CEO Sandeep Bhardwaj says, “Expectations of solid economic recovery and sustained growth in the next couple of years is keeping the bulls enthused. India remains an attractive destination from global funds perspective, especially in the China+1 scenario. Having said that retail investors must have a diversified portfolio at this stage to face any kind of volatility.”

At around 11:18 am, the benchmark index BSE Sensex is trading near 300 points higher or 0.5 per cent to 60173.73 levels on Friday.