The BSE benchmark Sensex crossed the 86,000 mark for the first time on Thursday, after gaining 1,000 points in exactly 14 months after touching 85,000 on September 24, 2024. The NSE Nifty50 also registered a fresh all-time high at 26,310 in intraday today, surpassing its earlier record of 26,277 set on September 27, 2024.

By the close, the Nifty was down over 95 points and the Sensex slipped around 336 points from their new record highs as investors booked profits at higher levels.

The 30-share Sensex settled at 85,720, up 110.87 points, after briefly hitting a new high of 86,055.86 during the session. In a similar trend, the NSE Nifty50 ended at 26,215.55, up 10.25 points, after touching a fresh peak of 26,310.45 in early trade.

“Indian markets steadied after a volatile session in which both the Nifty and Sensex briefly touched record highs before profit booking set in. Throughout the year, retailers emerged as the primary investors. However, overall market performance fell short of expectations, prompting a shift toward de-risking by year-end,” said Vinod Nair, Head of Research, Geojit Financial Services.

He added that market participants are now keenly watching tomorrow’s GDP print, along with key events such as the U.S.–India deal and the RBI policy meeting. These factors will play a crucial role in determining the near-term direction for equities.

It took 17 months for Sensex to move from 80K to 86K

The Sensex’s journey from 80,000 to 86,000 has been a story of powerful rallies, shifting global trends, resilient domestic inflows, and a prolonged period of consolidation due to sustained selling by foreign institutional investors amid valuation concerns.

The Sensex crossed the 80,000 mark for the first time on July 3, 2024, while the journey to 85,000 was remarkably swift, taking just 83 days. On July 18, the index touched 81,000, powered by strong FPI inflows and a rally in banking and IT stocks. By August 1, the Sensex hit 82,000, aided by upbeat earnings from large-cap corporates and optimism around India’s consumption resilience.

On September 12, the 30-share barometer scaled 83,000, supported by steady domestic institutional buying even as global markets showed signs of volatility. Barely a week later, on September 19, it crossed 84,000, a 1,000-point rise in just seven days.

Finally, the Sensex hit 85,000 for the first time on September 24, 2024, marking the seventh major milestone of the year. However, after touching this landmark, the index entered a long and unusual 14-month consolidation phase. The benchmark struggled to break into new territory amid stretched valuations, global uncertainties driven by geopolitical tensions and trade frictions, sustained selling by foreign investors, and periods of subdued corporate earnings.

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