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BSE Sensex Upward Momentum Continues After Reaching the $4 Trillion Mark For the First Time Ever

The BSE Sensex is a stock market index that tracks the performance of 30 well-established and financially sound companies listed on the Bombay Stock Exchange (BSE) ³. It is one of the most widely followed indices in India and reflects the overall health of the Indian economy ⁴.

BSE Sensex Upward Momentum Continues After Reaching the $4 Trillion Mark For the First Time Ever

According to the latest data, the BSE Sensex closed at 58,729.63 points on November 29, 2023 ⁵. This means that the total market capitalization of the 30 companies in the index was $4.02 trillion ⁵, which is a historic milestone for the Indian stock market. This also makes the BSE Sensex the sixth-largest stock index in the world by market capitalization, behind the S&P 500, Nasdaq Composite, Tokyo Stock Price Index, Shanghai Stock Exchange Composite Index, and Hong Kong Hang Seng Index ⁴.

BSE Sensex Upward Momentum Continues After Reaching the $4 Trillion Mark For the First Time Ever

The BSE Sensex has been on a strong uptrend since the beginning of 2023, gaining more than 20% year-to-date ⁵. Some of the factors that have contributed to this rally are:

- The robust recovery of the Indian economy from the impact of the COVID-19 pandemic, supported by fiscal and monetary stimulus, vaccination drive, and easing of lockdown restrictions ⁵.

- The strong performance of the corporate sector, especially the IT, banking, and consumer goods industries, which have reported better-than-expected earnings and growth prospects ⁵.

- The positive sentiment of the domestic and foreign investors, who have been attracted by the attractive valuations, growth potential, and reforms in the Indian market ⁵.

BSE Sensex Upward Momentum Continues After Reaching the $4 Trillion Mark For the First Time Ever

The BSE Sensex is expected to continue its upward momentum in the coming months, as the Indian economy is projected to grow by 9.5% in the fiscal year 2023-24, according to the International Monetary Fund . However, there are also some risks and challenges that could affect the index, such as:

- The uncertainty and volatility in the global markets, due to the rising inflation, interest rates, and geopolitical tensions ⁵.

- The possibility of a third wave of the COVID-19 pandemic, which could hamper the economic recovery and disrupt the normal activities ⁵.

- The regulatory and policy changes in the Indian market, such as the proposed changes in the foreign direct investment (FDI) norms, taxation rules, and data privacy laws ⁵.

BSE Sensex Upward Momentum Continues After Reaching the $4 Trillion Mark For the First Time Ever

Therefore, the BSE Sensex is a dynamic and complex index that reflects the performance and potential of the Indian economy and its corporate sector. It is also a source of pride and inspiration for the Indian people, as it showcases the achievements and aspirations of the world's largest democracy .

 

Source

(1) BSE SENSEX - Wikipedia. https://en.wikipedia.org/wiki/BSE_SENSEX.

(2) S&P BSE SENSEX | S&P Dow Jones Indices. https://www.spglobal.com/spdji/en/indices/equity/sp-bse-sensex/.

(3) BSE Sensex Today - Sensex Live Stock/Share Price, Charts - Angel One. https://www.angelone.in/indices/bse-sensex.

(4) BSE Sensex - Live Sensex and Stock Values. https://www.bseindia.com/sensex/code/16.

(5) BSE (formerly Bombay Stock Exchange) | Live Stock Market updates for S .... https://www.bseindia.com/.


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