Sensex@80,000: Fastest 10K-point rally in 139 days churns out 20 multibagger stocks
Sensex hit 80,000, its fastest 10,000-point rally from 70,000 in history. In 139 days, 20 BSE500 stocks became multibaggers. Sensex first hit 10,000 in Feb 2006, took 463 days for 20,000, and another 2,318 days for 30,000 in April 2017.
When India's benchmark index, , scaled a new milestone of 80,000 on Wednesday, the 10,000-point rally from 70,000 in mid-December became the fastest in history. Among the BSE500 stocks, the rally in 139 days resulted in 20 stocks becoming multibaggers during this period.Market data reveals that Sensex first touched the 10,000 milestone in February 2006, and it took 463 days to reach the 20,000 level. The subsequent 10,000-point increase occurred after 2,318 days, in April 2017.
The Sensex took 520 days to move from 30,000 to 40,000 and reached the 50,000 milestone after 416 days. The index reached 60,000 in just 158 days, making it the second fastest milestone, while the next 10,000-point increase occurred after 548 days.
"Sensex milestones are a journey and not a destination. Do remember that this journey is both forward as well as backward. Nasdaq went so backward that it took 17 years to come back to the previous peak. Invest in the market as per your risk appetite, have a long-term horizon, significantly moderate your return expectations, and follow the dharma of asset allocation," said Nilesh Shah of Kotak Mahindra Mutual Fund.
Old-timers on Dalal Street recall that the Sensex was 8,800 about 16 years ago when Lehman, the leading bank in the US markets, crashed.
"Nine times returns in 16 years. However, four years ago during the time of Covid, it was at 26,000, which seems unrealistic but it is true. It gives confidence that equity markets did perform well in the long run, we need patience and confidence while investing and even after it. Based on the current domestic macros, our advice is to continue investing systematically in equities with a long term perspective," Shrikant Chouhan of Kotak Securities said.
in 80,000 journey
The journey of Sensex from 70,000 to 80,000 saw at least 20 stocks delivering multibagger returns, according to data from ACE Equity.
The list is dominated by PSU stocks like (254%), (205%), (135%), (131%) and (128%).
Other winners in the list are , OFFS, , Amara Raja Energy & Mobility, , IRFC, , and .
(Data: Ritesh Presswala)
Source: Stocks-Markets-Economic Times
