Sensex gains over 6,000 points in 2014; gears for best rally in 5 years
Riding high on the sentiments, the stock market is gearing up for its best performance in five years with a rally of over 6,000 points in the benchmark Sensex in 2014 -- which also saw the investors' wealth hitting Rs 100 trillion level for the first time in history.
With just four days of trading left in 2014, the Sensex has rallied by nearly 29% so far in 2014 with a gain of 6,038 points -- the highest annual gain since the year 2009 when the bluechip index had rallied by 7,817 points.
Besides, the Sensex also has a chance to clock its second best ever annual rally this year, if it manages to end 2014 with a gain of over 6,500 points (recorded in the year 2007).
In percentage terms also, the rally this year is the biggest since 2009 (81%).
The year also left behind a trail of bullish fervour even as market participants strongly feel that 2015 would belong to bulls with no major negative factor in sight and market driver FIIs all set to pour in their investments in Indian equities.
Experts attribute the rally in stock markets during 2014 largely to the thumping mandate given in general elections to Narendra Modi-led government at the Centre and the subsequent boost to the investor sentiments.
The other benchmark index Nifty has also gained nearly 30%, while both the indices crossed several milestones before turning sluggish towards the end of the year amid sale of shares by foreign investors.
The Sensex clocked a peak of 28,822 points this year and currently stands at 27208.61 points, while coming a long way from a low of 19,963 points hit in February.
The Nifty also logged its low of 5,933.30 points in February and now stands at 8,174 points.
The year 2014 also marks the third consecutive year of gains for the stock market, after a sharp plunge in 2011. However, this year's gain is much higher than a 9% rally (1,744 points for Sensex) in the last year 2013.