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B. Krishnakumar

MONDAY invariably appears to have something special for the stock markets. Usually it is a steep fall earning the market the sobriquet, `Black Monday'. But this time around, Monday turned out to be positive for the market sentiment with the Sensex briefly crossing the 10,000-point mark. Incidentally, the index crossed the 9000-mark also on a Monday. It had taken the market just 70 days to achieve this milestone from 9000 that the market recorded on November 28, 2005.

This is the fastest 1000-point move recorded by the index in the last decade and a little more as the Sensex raced past the 4000 mark way back in March 1992.

Here is a look at the journey over the years.

1000 points on July 25, 1990: The Sensex touched the four-digit figure for the first time on this date from the time debuted in 1986 with the base year as 1978-79 and an initial score of 100. The first milestone thus took a long while to come.

2000 on January 15, 1992: It took 538 days for the index to move to the 2,000. The move was underpinned by the liberal economic policy initiatives undertaken by the then finance minister Dr. Manmohan Singh.

3000 On February 29, 1992: The Sensex crossed the 3000-mark in 45 days.

4000 on March 30, 1992: Helped by the Harshad Mehta euphoria, the move to the 4000-mark was even more swift with the Sensex taking just 28 days to cross this barrier.

5000 on October 8, 1999: The crash following the Harshad Mehta scam pushed the market into a bearish phase. It took more than 7 years for the Sensex to cross the 5,000-mark as the BJP-led coalition won the majority in the Lok Sabha election.

6000 on February 11, 2000: The global euphoria for technology sector stocks pushed the stock markets across the globe including the Sensex to historic highs. The index moved past the 6000-mark in a span of 126 days.

7000 on June 20, 2005: Though the Sensex crossed 6,000-mark in February 2000, it failed to close past it. It took more than four years for the Sensex to close past this level on Jan 2, 2004. The meltdown in the equity market consequent to the burst of the Internet bubble, pushed the markets went into a major bearish phase.

Stock markets across the globe saw huge correction. It took almost 63 months for the Sensex to get back to 7000.

Reports of an amicable settlement to the tiff between the Ambani brothers buoyed market sentiment. Led by the Reliance group pack, the Sensex moved past 7,000 points in about 63 months.

8000 on September 8, 2005: The surge in the FII inflow during 2005 was the key factor behind the bull market witnessed in the year 2005. The Sensex crossed the 8000 mark in 78 days.

9000 On November 28, 2005: It took 78 days to move to the 9000-mark on the back of surging FII inflows and active retail investors participation.

10000 on February 6, 2006: The Sensex crossed the magical 10000-mark in 70 days but closed shy of this level at 9981.

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