BSE Sensex touched 10000 mark on (06-02-2005) for the first time
The Sensex journey: 1,000 to 10,000!
rediff Business Desk | February 06, 2006
Bombay Stock Exchange, the oldest stock exchange in Asia, was established
in 1875 as the Native Share and Stock Brokers Association at Dalal Streetin
Mumbai. A lot has changed since then when 318 persons became members upon
paying Re 1.
In 1956, the BSE obtained permanent recognition from the Government of
India -- the first stock exchange to do so -- under the Securities
Contracts (Regulation) Act, 1956.
The Sensex, first compiled in 1986, is a 'Market Capitalisation-Weighted'
Index of 30 component stocks representing a sample of large and financially
sound companies. The BSE-Sensex is the benchmark index of the Indian
capital markets.
The BSE Sensex comprises these 30 stocks: ACC, Bajaj Auto, Bharti Tele,
BHEL, Cipla, Dr Reddy's, Gujarat Ambuja, Grasim, HDFC, HDFC Bank, Hero
Honda, Hindalco, HLL, ICICI Bank, Infosys, ITC, L&T, Maruti, NTPC, ONGC,
Ranbaxy, Reliance, Reliance Energy, Satyam, SBI, Tata Motors, Tata Power,
TCS, Tata Motors and Wipro.
The Sensex on Monday scaled a new high as it breached the historic 10,000
mark* during mid-session.
Here's a timeline on the rise and rise of the Sensex through Indian stock
market history.
The 1000-mark
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.
The 2000-mark
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.
The 3000-mark
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.
The 4000-mark
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.
The 5000-mark
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.
The 6000-mark
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.
The 7000-mark
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.
The 8000-mark
On 8th September 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.
The 9000-mark
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.
The 10,000-mark *
The Sensex on Monday crossed the magical figure of 10,000 and touched a
life-time peak of 10,003 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.
* During mid-session trading.
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posted by Silent Saint @ 8:34 PM
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