Charts: Sensex hits 30,000 after 2 years; RIL, HDFC Bank biggest wealth creators

The benchmark Sensex revisited the mount 30,000 summit today, a second such instance in a little over two years time when the index had breached the psychological mark in March 2015. Intra-day, the Sensex hit a high of 30,007.48 but failed to hold on to the crucial level and still ended at record high of 29,974.24, gaining 64.02 points. The stupendous rally in the run-up to the crucial level came on the back of a strong revival in robust foreign fund inflows in recent weeks, which otherwise stayed on the sidelines following the note ban in November last year that raised fresh concerns about the growth prospects. During the period, FIIs pumped in Rs 76.000 crore into local equity markets, while its counterpart domestic institutional investors were net buyers of shares to the tune of Rs 16,400 crore.

Several multiple positive factors fueled renewed optimism among the investors which led to a fresh upsurge in the market. The government’s urgency in clearing roadblocks for the likely implementation of the biggest indirect tax reform, the GST starting 1 July, was well received by the investor fraternity. Besides this, the Budget this year focussing on rural growth with robust farm packages and steps to revive consumption-led growth gave strong impetus to the market.

After the Sensex hit the 30,000 the mark for first time in intra-day trades on 4 March 2015, the journey since then has been more or less topsy-turvy. Facing enormous challenges in the Upper House to pass some important reforms and dismal corporate earnings took the sheen of the market, with the Sensex crashing to a low of 22,494.61 on 29 February, 2016.

But the markets rebounded thereafter as the focus on maintaining fiscal health and slew of reforms coupled with the government’s strong showing in key assembly elections boosted investors’ confidence thereby helping the Sensex surge a whopping 33 percent in a little over year’s time.

Below is the list of tables constituting stocks and sectors that gained and lost in past two years

Disclosure: Reliance Industries owns Network18, which publishes Firstpost