By Express News Service
NEW DELHI: Three days after the Nifty touched 21,000 points, the Sensex crossed the 70,000-mark for the first time. The 30-share index of the BSE on Monday touched 70,000 at 10.25 am, after which profit bookings took the index to its lowest level of the day at 69,782 in the afternoon. The index closed the day at 103 points, or 0.15%, higher than the Friday’s close.
Sensex took almost six years to move from 35,000 on 17 January 2018 to reach the 70,000-mark. The index first crossed the 1,000 level on 25 July 1990. Since then, it has grown at a compounded annual growth rate of over 20%.
Now, the question popping in every investor’s mind is: when will the Sensex hit the magic figure of 1,00,000? While not many analysts are ready to take a bet on that, they feel given the favourable macroeconomic indicators, likely political stability, and changing geopolitical situation globally, one can expect an average annual return of 12-15% from the equity markets in the next five years.
“I think there is a broad-based rally underway, more than the Sensex,” says Vikaas Sachdeva, managing director, Sundaram Alternate Assets. “What is encouraging is the sheer breadth of companies doing well, and the valuations accommodating this growth,” he adds.
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NEW DELHI: Three days after the Nifty touched 21,000 points, the Sensex crossed the 70,000-mark for the first time. The 30-share index of the BSE on Monday touched 70,000 at 10.25 am, after which profit bookings took the index to its lowest level of the day at 69,782 in the afternoon. The index closed the day at 103 points, or 0.15%, higher than the Friday’s close.
Sensex took almost six years to move from 35,000 on 17 January 2018 to reach the 70,000-mark. The index first crossed the 1,000 level on 25 July 1990. Since then, it has grown at a compounded annual growth rate of over 20%.
Now, the question popping in every investor’s mind is: when will the Sensex hit the magic figure of 1,00,000? While not many analysts are ready to take a bet on that, they feel given the favourable macroeconomic indicators, likely political stability, and changing geopolitical situation globally, one can expect an average annual return of 12-15% from the equity markets in the next five years.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
“I think there is a broad-based rally underway, more than the Sensex,” says Vikaas Sachdeva, managing director, Sundaram Alternate Assets. “What is encouraging is the sheer breadth of companies doing well, and the valuations accommodating this growth,” he adds.
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