The 30-share BSE Sensex jumped 670.31 points or 1.02 per cent to hit its all-time intra-day peak of 66,064.21. The barometer settled 164.99 points or 0.25 per cent higher at 65,558.89.
Sensex All Time High: Benchmark stock indices hit their all-time high levels in intra-day trade on Thursday, with Sensex breaching the historic 66,000-mark for the first time following a rally in global markets amid moderating US CPI inflation data.
The 30-share BSE Sensex jumped 670.31 points or 1.02 per cent to hit its all-time intra-day peak of 66,064.21. The barometer settled 164.99 points or 0.25 per cent higher at 65,558.89. The NSE Nifty went up by 29.45 points or 0.15 per cent to close at 19,413.75. During the day, it rallied 182.7 points or 0.94 per cent to reach its lifetime high of 19,567.
Experts feel that the ongoing global rally in stock markets will get a further mild boost from the latest US consumer inflation for June which has come at 3 per cent, better than market expectation of 3.1 per cent.
According to Sandeep Jain, co-founder of Tradeswift, a leading commodity, equity and currency derivatives broker, all economic indicators are in favour of the market and that Sensex could touch 70,000-mark by Diwali.
“BSE Sensex can touch 70,000 in 2023. Several sectors like IT, FMCG… Reliance are yet to show a big move. I am bullish on Sensex and results will be good in the quarter and all economic indicators are good. FIIs inflow, income tax numbers (direct and indirect) all are coming well… so I think Sensex should touch 70,000 by Diwali,” he said.
Divam Sharma , founder and CEO of Green Portfolio – PMS, said that the benchmark index could touch 70,000-mark in 2023. “However, the coming few months can be volatile as we have reached all-time highs and all the positives have been priced in quickly by the markets. FPI’s inflows are still looking strong while geopolitical factors, inflation coming back, deferment of interest rate cuts, and weak business outlook from developed markets can impact the markets.”
“So, we are confident of touching 70,000, but there will be some turbulence in this journey,” Sharma added.
Vaibhav Kaushik, Research Analyst at GCL Broking, too echoed similar thought. “Sensex can hit the 70000 mark very soon and even it can go beyond it. Our target is 75,000 for this calendar year.”
“All important components of Sensex are trading above all average on weekly chart. Also, IT stocks are out performing now. It will help for faster movement of Sensex in coming weeks,” he said.
Sensex Milestones
July 13, 2013: Sensex hits record intra-day peak of 66,064.21
July 6, 2023: Sensex ends at an all-time high of 65,785.64
July 4, 2023: Ends at an all-time high of 65,479.05; hits intra-day peak of 65,672.97
July 3, 2023: Settles at an all-time high of 65,205.05; also ends above 65,000-mark for the first time
June 30, 2023: Settles above 64,000-mark
June 28, 2023: Reaches record 64,000-mark in intra-day trade
November 30, 2022: Hits 63,000-mark for the first time
October 19, 2021: Goes past 62,000-mark in intra-day trade
October 14, 2021: Crosses 61,000-mark for the first time in intra-day and at close of trade
September 24, 2021: Reaches 60,000-mark both in intra-day and at close of trade
September 16, 2021: Touches 59,000-mark for the first time both in intra-day and at close of trade
September 3, 2021: Scales 58,000-mark in intra-day trade and also closes above that level
August 31, 2021: Goes past 57,000-mark in intra-day trade and also closes above that level
August 27, 2021: Closes above 56,000-mark for the first time
August 18, 2021: Goes past 56,000-mark for the first time in intra-day
August 13, 2021: Rallies above 55,000-mark for the first time and closed above that level
August 4, 2021: Crosses 54,000-mark for the first time in intra-day trade and closes above that level
July 7, 2021: Closes above 53,000-mark for the first time
June 22, 2021: Reaches 53,000-mark in intra-day trade
February 15, 2021: Rallies above 52,000-mark
February 8, 2021: Ends above 51,000-level
February 5, 2021: Crosses 51,000-mark in intra-day trade
February 3, 2021: Closes above 50,000 for the first time
January 21, 2021: The benchmark touches the 50,000-mark in intra-day trade.
Reference Link:- https://www.etnownews.com/markets/will-sensex-touch-70000-mark-in-2023-what-market-experts-predict-and-look-at-major-milestones-article-101730423