Sensex Tops 40,000 Mark For First Time Ever: 10 Things To Know

23 May 2019, 01:12 PM IST

Reliance Industries, State Bank of India (SBI), ICICI Bank, and Larsen & Toubro contributed the most to the advances on Sensex on Thursday.
On Wednesday, the Sensex soared 1,014.75 points - or 2.59 per cent - to surpass its earlier all-time intraday high registered on Tuesday.
The Sensex had crossed the 30,000 mark for the first time in on March 4, 2015, but it took the benchmark index more than two years to take out that level on a closing basis.
On April 26, 2017, the Sensex settled at 30,133.35, in a first closing above the 30,000 mark.
Again, it took the BSE benchmark a little more than two years to complete the journey for the next 10,000 points.
Optimism on the election outcome triggered a rally in the markets late last week, which took a breather on Tuesday.
Some analysts had anticipated the rally ahead of election results to be short-lived.
The BJP has crossed the halfway mark on its own steam and leads showed an NDA sweep in the national elections within two hours of counting of votes.
Investors expect a second term will give PM Modi time to carry through those reforms while pushing for more fiscal and monetary stimulus.
Banking shares were among the top performers on the BSE. earlier in the day, the S&P BSE Bankex Index hit an all-time high of 35,671 led by gains in Bank of Baroda, IndusInd Bank, Yes Bank, State Bank of India and Federal Bank.