Sensex has leaped from 40K to 50K in only 415 sessions, making it the fastest rally by the index to cover 10,000 points and reach the historic 50,000 mark.
On May 23, 2019, the index touched the 40K mark for the first time and has gained over 9,818 points since then. This is the shortest period index took to cover 10,000 points during its 50K journey since its inception.
The latest 10,000-point journey has been sparked by strong FII inflows, buoyant global markets on prospects of Joe Biden‘s win in US polls, positive news on the COVID-19 vaccine front.
Hopes that the new US government will announce additional stimulus to help recovery in the world’s largest economy added gains in the global markets. Better than expected earnings in Q2 of the current fiscal also took the index to record highs.
On the other hand, the index took the longest period of nearly 5,942 sessions to scale its first 10,000 points since it started its journey in 1979.
Sensex was inaugurated in 1986 with 1979 as the base year
On April 3, 1979, the value of the index stood at 124.15. Sensex closed at the 10K mark for the first time ever in 2006. On February 6, 2006, the index reached an intraday high of 10,002.8.