The Indian stock market is performing record-breaking these days. On Wednesday, July 3, the Bombay Stock Exchange (BSE) flagship index Sensex crossed the historic figure of 80,000 for the first time. This achievement becomes even more special because the Sensex has achieved this milestone in just six and a half months. Even after this, the Sensex continues to rise. In today’s early trade, it reached a new record high of 80,321.79 with a gain of 334.99 points.
Record jump of 10,000 points in just 6.5 months
After reaching the 70,000 level in December 2023 last year, the Sensex has completed a record-breaking rally of 10,000 points in just 6.5 months. This feat was achieved on 3 July 2024 when the Sensex crossed the historic figure of 80,000 for the first time.
Fastest 10,000 point rally in stock market history
This is the fastest 10,000 point rally of Sensex in the history of the Indian stock market. How fast this rally was can be gauged from the fact that it took 222 sessions for Sensex to reach from 60,000 to 70,000, while it took only 139 sessions to reach from 70,000 to 80,000.
| Range | Number of Sessions |
| 10,000-20,000 | 432 |
| 20,000-30,000 | 445 |
| 30,000-40,000 | 549 |
| 40,000-50,000 | 511 |
| 50,000-60,000 | 331 |
| 60,000-70,000 | 222 |
| 70,000-80,000 | 139 |
Big contribution of this share behind the boom in the market
HDFC Bank was the biggest contributor to this boom. After the merger of HDFC and its banking arm, it has the highest weightage in the Sensex. HDFC Bank shares gained 2.2% after its shareholding publication for the June 2024 quarter. The shareholding showed that foreign stake in the bank has come down to 54.8%.
In the last 5 years since the Sensex crossed the 40,000 mark, Tata Motors and Mahindra have been the top gainers in the Sensex. The shares of these companies have increased by 426% and 358% respectively.