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<ul><li>Indian equity benchmark index <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> scaled to a record high of 44,523 points, and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> breached 13,000-mark for the first time on November 24. </li><li>While the investors cheered the bullish market — investment experts are cautious that the market may have matured enough and is primed for a correction. </li><li>The hope of a vaccine against COVID-19 has been a big driving factor in the current rally. Yet, as the cliche goes, the proof of the pudding is in the eating.</li></ul>The Indian stock market closed at a fresh high on the vaccine hopes on November 24. For the first time in the history of the Indian stock market, equity benchmark index Sensex scaled to a record high of 44,523 points, and Nifty breached 13,000-mark. <div type="image" title="Sensex" msid="79389737" hostid="261"></div> While the investors cheered the bullish market — investment experts are cautious that the market may have matured enough and is primed for a correction. Sushil Kedia, the founder of Kedianomics, told Business Insider that in the next 3-4 months, a minimum 20% correction is certain. However, it can be more severe depending on the circumstances. “And in the next 6-months, I am looking at a very-very dramatic crop in the stock market,” he said, describing the current rally as euphoric and complacent. <div type="Article" hostid="261" msid="79388713" title="Markets close at record highs, Nifty ends above 13,000 for the first time ever" mstype="2" mssubtype="0"></div> S Hariharan from Emkay Global Financial Services also thinks that at this level, there is a certain risk to the market. “As of now, the market is pricing in a robust recovery, while discounting a smooth roll-out of the government’s vaccination drive - hence, the risks of disappointment on both these fronts pose the major risk of stalling market momentum.” <div type="image" title="Nifty" msid="79389749" hostid="261"></div> Kedia said that’s how the market has been for years that “you have to anticipate ahead of the next cycle. So this cycle looks very much matured now.” Vaccine may be born soon but it will take time to walk The hope of a vaccine against COVID-19 has been a big driving factor in the current rally. Yet, as the cliche goes, the proof of the pudding is in the eating. “Much of 2021 is going to be consumed in different challenges of the corona. I think there is too much complacent euphoria in the market right now — in which on the one hand a number of people are feeling left out and on the other hand elevations are at its extreme. Technically also the markets are at a point where inexplicably large and sharp corrections are a greater possibility than this continued drop,” Kedia highlighted. However, it is not to say that a correction will begin tomorrow. According to Hariharan, the market strength is expected to become more broad-based now, with under-owned sectors like metals and public sector companies catching up with hotter sectors like <a href="https://www.businessinsider.in/stock-market/news/checkout-top-10-gainers-on-the-nifty-50-in-the-last-three-months/articleshow/79386155.cms">financials </a>. A similar performance may be seen in mid-caps that have lagged large-caps in the short-term. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/checkout-top-10-gainers-on-the-nifty-50-in-the-last-three-months/articleshow/79386155.cms" data-type="tilCustomLink">From IndusInd Bank and Kotak Mahindra to Bajaj Finance — seven of the top ten Nifty gainers in the last three months have been financials</a> <a href="https://www.businessinsider.in/thelife/personalities/news/elon-musk-surpasses-bill-gates-to-become-the-worlds-second-richest-person-as-teslas-market-cap-inches-closer-to-500-billion/articleshow/79382348.cms" data-type="tilCustomLink">Elon Musk surpasses Bill Gates to become the world’s second-richest person as Tesla’s market cap inches closer to $500 billion</a>

Markets hit record high — some experts say it is the final leg of the vaccine euphoria

The BSE SENSEX can be expanded as the Bombay Stock Exchange Sensitive Index. In other terms, it is simply called SENSEX. This is a free-float stock market index of about 30 top-performing and financially well-off companies that are found listed on the Bombay Stock Exchange. Representing various industry sectors in the country, these 30 companies are some of the largest in the country whose stocks are very actively traded. The BSE SENSEX is always considered as the pulse of the domestic stock exchange markets in India. The base value of SENSEX was taken as 100 on April 1, 1979. Some important milestones in SENSEX The first notable milestone in the history of SENSEX was noted on July 25, 1990, when it touched four figures for the first time closing at 1,001. This was attributed to the excellent corporate gains in the country and a favourable monsoon. SENSEX crossed its 2000 mark on January 15, 1992; touched the 3,000 mark on February 29, 1992; crossed the 4,000 mark on March 30, 1992; touched the 5,000 mark on October 11, 1992; crossed the 6,000 mark on February 11, 2000. On June 21, 2005, the SENSEX crossed 7,000 marks following the settlement between the Ambani brothers which boosted up the investors’ sentiments. On November 5, 2010, the SENSEX crossed the 21,000 mark with a huge jump reaching a peak of 21,078 points. This record was maintained for about 3 years and SENSEX closed at 21,033.97 points on October 30, 2013. For the first time, the SENSEX reached 24,000 points on May 13, 2014, following the results of the exit poll showing that the NDA led by BJO would form the government at the center following the general elections for the Lok Sabha 2014. On June 5, 2014, SENSEX closed above 25,000 points and it touched the 26,000 watermark on July 7, 2014, when the country anticipated a budget that would reform the country soon. When the Reserve Bank of India cut down the repo rates, the SENSEX crossed the 30,000 mark on March 4, 2015. On May 26, 2017, the SENSEX crossed 31,000 points level for the first time. it crossed the 32,000 points level on July 13, 2017. Summary of the SENSEX Jumps in India Historically the all-time high in the SENSEX stock index was noted at 40312.07 in June 2019 and an all-time low was noted at 113.28 in December 1979. A gigantic jump of SENSEX Both SENSEX and Nifty posted one of their biggest jumps in May 2019 after the exit poll results showing that the Narendra Modi government might retain the ruling power over the central government. During this time, the SENSEX reported its highest ever closing figure recorded at 39,352.67. The latest historical jump on September 20, 2019 On September 20, 2019, Friday, the SENSEX stock index made yet another historical jump following the announcement by the Finance Minister Nirmala Sitaraman which said the corporate tax rates for the domestic companies will be cut down from 30% to 22% with effect from April 1. The said move was aimed at boosting the Indian economic growth.

Here are the biggest rallies Sensex has seen in the last 30 years

NEW DELHI: Analysts at Dalal Street see India in a multi-year <keyword id="72589" type="UNKNOWN" weightage="60" keywordseo="bull-market">bull market</keyword>, which may push the <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> level to much debated 100000 in the next 10 years, supported by earnings growth, economic revival and reform push by the new government. 
 
The benchmark index Sensex has managed to rally 420 per cent or a little over 21,500 in the last 10 years. But can it triply from here in the next ten years? That remains to be seen. However, analysts are not giving up hopes just yet. 
 
“India has a long way to go. The ingredients for a sustained bull market are very much in place and there is a good amount of visibility that we will at least go back to the long range profit growth of 14-15 per cent,” said Navneet Munot, CIO, SBI Mutual Funds. 
 
“Considering the fact that valuations are reasonable and if India Inc can deliver growth of around 15 per cent per annum, which is not an unreasonable expectation over a long period, the Sensex can hit 1,00,000 in 10 years,” he added. 
 Year 2014 has been eventful for the Indian markets, pushing them up by over 25 per cent, with both the Sensex and the <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> touching record highs on the back of improving domestic macros, supportive global liquidity and the expected governance improvement in India after the last general elections. 
 
The macro-economic data is looking positive, the economic activity is expected to gather steam by 2015 and GDP growth rate might hit near the 7 per cent mark in the next two years. 
 
However, Munot is not the only one who is optimistic about the Indian markets. Back in the month of June, Varun Goel of Karvy also predicted the level of 100000 for the Sensex in the next six years. 
 
“We see 2014 bringing a new bull cycle into existence. A strong export sector, revival in investment activity, continued recovery in the US &amp; a stable Euro area are significant positives for equity markets. With domestic macro-economic data also on the mend, we are aggressive buyers of the Indian equity,” said Varun Goel, Head PMS, Karvy. 
 From an equity market stand-point, macro-economic revival in India will open opportunities to make strong returns in the next few years. Goel expects a GDP growth of 6 per cent in FY15 and believes that the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> will see a revival of growth and earnings cycle from there on. 
 
“For FY15, we expect a Sensex EPS growth of around 15 per cent and believe that earnings growth for the new five to six year business cycle should be at least 20%, considering the economy will revive from a very low base,” he added. 
 
Goel is of the view that a multiple rerating is also possible as cost of equity goes down in the next few years with the decrease in risk-free rate. An earnings growth between 20 and 25 per cent and multiple rerating from 15x to 16-17x in the next few years can lead to a 25% compounding of the Sensex returns, which will take it to 100,000 levels by calendar year 2020, he explains. 
 
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Economic revival key for earnings growth: 
 
The Indian markets have got support from strong inflows from foreign institutional investors who have pumped in over $26 billion in the Indian market so far in the year 2014. 
 
FIIs are betting big on the Narendra Modi-led BJP government as they see it initiating reforms to spur economic growth, remove bottlenecks and aid investment activity. 
 <keyword id="71" type="POSITION" weightage="100" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="60" keywordseo="Narendra-Modi">Narendra Modi</keyword> is about to finish his first 100 days in office, but India Inc CEOs are convinced an economic revival is around the corner. 
 
A majority of 50 CEOs polled by ET are preparing to make fresh investments and are also stepping up hiring, all in anticipation of a 6-8% GDP growth most feel is possible over the next three years. 
 
The results of the exclusive ET Poll suggest that after years of uncertainty and inaction, India Inc is now preparing to re-ignite its growth engines. The poll shows 74 per cent of CEOs are already seeing demand pick-up, 80 per cent have made new investment decisions or are likely to do so soon and two-thirds are now stepping up hiring. 
 
Earlier this week, global brokerage firm Nomura, which sees nearly 15 per cent upside in the Sensex in the next one year, revised its FY16 real GDP growth forecast to 6.8 per cent YoY vs. 6.5 per cent previously. 
 
Of the many variables that make up the market’s macro ecosystem, growth is unarguably the most important, largely because its relationship with the market is quite unequivocal and straightforward. 
 
“Rising growth is strongly correlated with a re-rating of the market’s earnings multiple, while falling growth is strongly correlated with a de-rating of the market’s earnings multiple,” added the Nomura report, authored by Sonal Varma and Aman Mohunta. 
 
So, is a 15 per cent earnings growth possible if the economy turns around? 
 It is very much possible provided global environment remains stable, the Reserve <keyword id="6355303" type="CITY" weightage="100" keywordseo="Bank-of-India">Bank of India</keyword> eases key policy rates which would help in kick starting investment cycle for India Inc’s control on inflation and policy push. 
 
Despite so many negatives plaguing the economy, corrective measures by the new government can quickly revive growth. The growth rebound to those levels can take place quickly by reviving the investment demand. Once that has been achieved, the more difficult path of reclaiming the 7-8 per cent growth can start. 
 
“While 15 per cent earnings growth rate does not look difficult, the fact is we have not had three years of 15% plus earnings growth rate except in the period of 2003 to 2008,” said Anoop Bhaskar, Head-Equities, UTI AMC. 
 
“We need to get the right kind of macro factors in place for you to deliver that number on a consistent basis. Of course, we can get two years or three years, but to get it for the next six-seven years in a row requires that we have in place macro factors which remain fairly comfortable and positive,” he added.

India In Multi-Year Bull Market; Sensex Seen At 1,00,000 In 10 Years

New Delhi, Jan 31 () The Indian stock market continues to be upbeat about the country's growth prospects, despite deceleration in GDP growth for the sixth consecutive quarter, the Economic Survey 2019-2020 said, adding that the BSE Sensex has increased 7 per cent till December 2019 over March.
 "This may also reflect the growing perception of India becoming an attractive destination for investment in the backdrop of a decline in the growth of major economies of the world and continued easing of monetary policy by the US Fed," it said on Friday.
 "Despite the deceleration in GDP growth for the sixth consecutive quarter, the stock market continues to be upbeat about the country's growth prospects," the Survey said.
 The net FDI and net Foreign Portfolio Investment (FPI) in first eight months of 2019-20 stood at USD 24.4 billion and USD 12.6 billion respectively, more than the inflows received in the corresponding period of 2018-19, it added.
 Benchmark indices Nifty50 and S&amp;P BSE Sensex reached record highs during 2019-20 (up to January 16, 2020). The Sensex reached an all-time high closing of 41,952 on January 14, 2020, witnessing an increase of 7.9 per cent from 38,871 level on April 1, 2019.
 Nifty-50 index reached an all-time high closing at 12,355 on January 16, 2020, the survey said.
 "Change in composition of sensex over the years shows that pro-business policies give a level playing field, providing opportunities to all and keeping incumbents on their toes," Chief Economic Adviser Krishnamurthy Subramanian said in a tweet. SUM ABM
ABM

Stock market remains upbeat about growth prospects; Sensex up 7 pc till Dec from March 2019: Survey

Mumbai, Mar 23 () Domestic stock trading on Monday resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,186 points and the broader Nifty sinking below 7,900 level. Stock exchanges paused trading for 45 minutes after Sensex plunged 10 per cent, hitting its lower circuit limit, within the first hour of opening of the session. As an automatic mechanism to curb freefall in the market, trading is halted in the market for 45 minutes when an exchange plunges 10 per cent before 1 pm. Continuing its downward spiral, domestic BSE Sensex was trading 3,185.84 points, down 10.65 per cent at 26,730.12. It hit an intra-day low of 26,645.83. Similarly, the NSE Nifty cracked 923.95 points, or 10.56 per cent, to 7,821.50 after resumption of trade. Axis Bank was the top loser on Sensex, cracking up to 21 per cent, followed by IndusInd Bank, ICICI Bank, Bajaj Finance, UltraTech Cement and Kotak Bank. ANSANS

Market extends fall as trading resumes, Sensex sinks 3,186 pts

Mumbai, The key Indian equity indices opened at new record levels on Monday with the BSE <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> surging over 600 points. The Sensex has touched an all-time high of 51,409.36 and the Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> has hit a record high of 15,119.25 points. The across-the-board rise was led by banking, finance and auto stocks. Around 10.13 a.m., Sensex was trading at 51,371.80, higher by 640.17 points or 1.26 per cent from its previous close of 50,731.63. It opened at an intraday low of 51,146.67. The Nifty50 on the National Stock Exchange was trading at 15,106.10, higher by 181.85 points or 1.22 per cent from its previous close. The top gainers on the Sensex were <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword>, <keyword id="6355975" type="DOMAIN" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> and <keyword id="6653" type="DOMAIN" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, while NTPC, <keyword id="6359783" type="DOMAIN" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> and <keyword id="30331" type="DOMAIN" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword> were the only losers. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/apples-talks-with-hyundai-and-kia-for-autonomous-cars-may-have-crashed-early/articleshow/80742934.cms">Apple's talks with Hyundai and Kia for autonomous cars may have crashed early</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-new-flagship-smartphone-expected-price-specification-and-launch-date-leaked/articleshow/80742720.cms">This could be the next OnePlus flagship smartphone</a>

Sensex soars over 650 points to record high, Nifty starts above 15,000 for first time

&#xa0; 
 The Indian financial markets reacted after <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> said it conducted surgical strikes on Pakistan terror hubs. The <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> tanked beyond 500 points. 
 
Sensex lost over 500 points and ICICI Bank, Adani Ports,<a href="http://www.businessinsider.in/searchresult.cms?query=+Axis+Bank&amp;sortorder=effectivedate"> Axis Bank</a>, Sun Pharma and <a href="http://www.businessinsider.in/searchresult.cms?query=GAIL&amp;sortorder=effectivedate">GAIL</a> are the top Sensex losers. India VIX spikes 17.09%. 
 
Nifty50 slipped below 8,700 level. 
 
Meanwhile, the <a href="http://www.businessinsider.in/searchresult.cms?query=Director+General+of+Military+Operation&amp;sortorder=effectivedate">Director General of Military Operation</a>, in a news conference, said the Indian army conducted the anti-terror operations on September 28 night to prevent infiltration. 
 The <keyword id="894959" type="UNKNOWN" weightage="20" keywordseo="DGMO">DGMO</keyword> said the surgical strikes were based on specific intelligence input of terror groups ready to infiltrate into India and carry out terror attacks. 
 
"Significant casualties have been caused in these strikes," DGMO <a href="http://www.businessinsider.in/searchresult.cms?query=Lt+General+Ranbir+Singh+&amp;sortorder=effectivedate">Lt General Ranbir Singh </a>said adding, "The operation has now ended." 
(image:&#xa0;thinkstock)

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Markets hit record high — some experts say it is the final leg of the vaccine euphoria

Navdeep Yadav

Here are the biggest rallies Sensex has seen in the last 30 years

BI India Bureau

India In Multi-Year Bull Market; Sensex Seen At 1,00,000 In 10 Years

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Stock market remains upbeat about growth prospects; Sensex up 7 pc till Dec from March 2019: Survey

PTI

Market extends fall as trading resumes, Sensex sinks 3,186 pts

PTI

Sensex soars over 650 points to record high, Nifty starts above 15,000 for first time

IANS

Markets tank over 500 points as India strikes Pakistan terror launchpads

BI India Bureau

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