The SENSEX closed at 30,133.35, for its first close above the 30,000 level


On April 26, 2017, the SENSEX, India’s benchmark stock market index, achieved a significant milestone by closing above the 30,000 level for the first time. The closing value for that day stood at 30,133.35, marking a remarkable achievement for the Indian stock market.

This historic event demonstrated the strength and resilience of the Indian economy and investor confidence in the country’s financial markets. The crossing of the 30,000 level was seen as a positive sign for the economy and was met with enthusiasm by market participants. It reflected the growth and potential of the Indian stock market, positioning it as a key player in the global financial landscape.

In 2017, the SENSEX experienced a notable increase and reached new highs. There were several factors that contributed to the upward movement of the SENSEX during that period. Here are some key reasons:

Reforms and Policy Initiatives: The Indian government implemented various economic reforms and policy initiatives aimed at boosting economic growth and attracting investment. These included the introduction of the Goods and Services Tax (GST) and the implementation of the Insolvency and Bankruptcy Code (IBC), which improved the business environment and investor confidence.

Strong Corporate Earnings: Many companies in India reported robust earnings growth, which positively impacted their stock prices. Favorable economic conditions, increased consumer spending, and a stable global economic environment contributed to the improved financial performance of companies across different sectors.

Global Market Optimism: The global markets, including major economies like the United States, Europe, and China, experienced a period of positive investor sentiment and economic growth. This favorable global environment had a spill-over effect on the Indian stock market, attracting foreign investment and driving up stock prices.

Strong Domestic Consumption: India’s domestic consumption story played a significant role in the SENSEX’s rise. With a growing middle class and rising disposable incomes, consumer demand increased across various sectors, including FMCG, automobiles, and retail. This strong domestic consumption acted as a catalyst for the growth of Indian companies, boosting their stock prices.

Monetary Policy and Interest Rates: During this period, the Reserve Bank of India (RBI) implemented monetary policies that were conducive to economic growth. Interest rates were lowered, providing liquidity to the markets and encouraging investment in equities.

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