Indian Sensex History 1K to 19K
The Sensex story: From 1K to 19K
- The Indian markets achieved another milestone on Monday.
The index gained the last 1,000 points in just four trading days.(See below for the timeline)
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.
2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy , Reliance Capital and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 6, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 21, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the 14,000-mark to touch 14,028 points. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
15,000, July 6, 2007
The Sensex on July 6, 2007 crossed the magical figure of 15,000 to touch 15,005 points in afternoon trade. It took seven months for the Sensex to move from 14,000 to 15,000 points.
16,000, September 19, 2007
The Sensex scaled yet another milestone during early morning trade on September 19, 2007. Within minutes after trading began, the Sensex crossed 16,000, rising by 450 points from the previous close. The 30-share Bombay Stock Exchange's sensitive index took 53 days to reach 16,000 from 15,000. Nifty also touched a new high at 4659, up 113 points. The Sensex finally ended with its biggest-ever single day gain of 654 points at 16,323. The NSE Nifty gained 186 points to close at 4,732.
17,000, September 26, 2007
The Sensex scaled yet another height during early morning trade on September 26, 2007. Within minutes after trading began, the Sensex crossed the 17,000-mark . Some profit taking towards the end, saw the index slip into red to 16,887 - down 187 points from the day's high. The Sensex ended with a gain of 22 points at 16,921.
18,000, October 09, 2007
The BSE Sensex crossed the 18,000-mark on October 09, 2007. It took just 8 days to cross 18,000 points from the 17,000 mark. The index zoomed to a new all-time intra-day high of 18,327. It finally gained 789 points to close at an all-time high of 18,280. The market set several new records including the biggest single day gain of 789 points at close, as well as the largest intra-day gains of 993 points in absolute term backed by frenzied buying after the news of the UPA and Left meeting on October 22 put an end to the worries of an impending election.
19,000, October 15, 2007
The Sensex crossed the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors. The index gained the last 1,000 points in just four trading days. The index touched a fresh all-time intra-day high of 19,096, and finally ended with a smart gain of 640 points at 19,059.The Nifty gained 242 points to close at 5,670.
All Best My Dear Friends ....
Your's
Sanwar Mal
Protests, panic, rage outside BSE building
Ramesh Shah, a stockbroker at the Bombay Stock Exchange, had a foreboding that some bad news awaited him this morning but he never expected that Asia's oldest stock exchange would shut down its operations for three hours and his earnings would take a huge dip.
"I knew that this new government will not be market-friendly, but I never thought that something this bad will happen to the stock markets. (Prime Minister-designate) Sonia Gandhi is bad for our country and also for the economy. Sonia Gandhi and all her allies have no economic programme," says Ramesh.
"Everyone is panicking here with communist leaders making statements like they will disband the divestment ministry and not let labour reforms go through," Ramesh rues.
Asked how much money he lost, his broker friend Asmit Desai intervenes and says, "He has lost 'ek khoka' (Rs 1 crore or Rs 10 million) and I have lost around Rs 50 lakh (Rs 5 million)."
"This is all because of Sonia Gandhi. She has no sense of business and economics. She should have laid common minimum programme first and only then allowed these senseless Left leaders speak about economic policies. Because of their statements, FIIs (foreign institutional investors) are running away from the market. Both of us have lost money in blue chip companies like ONGC and Infosys," laments Desai.
Unlike Ramesh and Asmit, who were at least patiently explaining their woes, there were many others -- brokers and investors -- who were shouting slogans right outside the Bombay Stock Exchange on Dalal Street against Congress president Sonia Gandhi and her party.
They then turned their attention to the reporters and blamed them for their sorry plight.
"Why are your satellite television vans and reporters here? Get out of here. We have lost everything and you have come to report and make money out of our sorry plight," said an angry stock broker.
"Why do you want to know my name? You will come to know tomorrow as many of the brokers would have committed suicide by then. Read the newspaper then," shouted another broker.
Soon a group of four brokers ran towards the reporters and snatched their writing pads and told them to get out of the area. Some of them also heckled television reporters and told them to not project a good image of Sonia.
"Your exit poll results has ruined us and the statement of communist leaders on television channels have driven away FIIs. Why do you call these communist leaders to you television studios? These communists have driven away investment from West Bengal. What have they given the country?" shouted another broker.
The police soon arrived at the scene in force, fearing that the situation would get out of hand as the brokers seemed to be turning highly agitated.
The policemen cleared Dalal Street after telling the brokers and reporters to get out from the BSE building.
The market also feared that reforms and development agenda would take a backseat under the new government, Kavi Kumar said.
The crash was due to two reasons -- election results were a surprise and the concerns over political stability, Arup Raha, head, equities, JP Morgan, said.
Dina Mehta, former vice president, BSE, suggested that short sales should be banned for two to three days to contain volatility in the market.
"There is no bear cartel as is being talked of. There is a panic in the market because of perceived ideological shift in the progressive policies of the government," one analyst said.
