Benchmark Sensex closed above the 30,000-mark for the first time on 26 April, 2017.
A 30-kg cake was cut at Bombay Stock Exchange (BSE) in celebration.
The BSE 30-share Sensex opened on a strong footing and surged to a lifetime high of 30,167.09 points in intra-day trade, before settling at 30,133.35, up 190.11 points, or 0.63 per cent.
Among the gainers, Sensex heavyweights ITC rose 3.4 percent, M&M jumped 3.3 percent, HDFC moved up 2.4 percent, Hindustan Unilever gained 1.8 percent and ICICI Bank was up 1.6 percent.
Among BSE sectoral and industry indices, FMCG rose 2.04 percent, auto 1.01 percent, bankex 0.82 percent, finance 0.74 percent and metal 0.47 percent.
The total turnover on BSE amounted to Rs 5,021.73 crore, higher than Rs 4,006.89 crore registered during the previous trading session.
SENSEX
The SENSEX-(or SENSitve indEX) was introduced by the Bombay stock exchange on January 1 1986. It is one of the prominent stock market indexes in India.
The Sensex is designed to reflect the overall market sentiments. It comprises of 30 stocks. These are large, well-established and financially sound companies from main sectors.
The method adopted for calculating Sensex is the market capitalisation weighted method in which weights are assigned according to the size of the company. Larger the size, higher the weightage.
The base year of Sensex is 1978-79 and the base index value is set to 100 for that period.
The stocks are selected based on a lot of qualitative and quantitative criterias.
Since, the Sensex consists of 30 large companies and since it’s shares may be held by the government or promoters etc, for the purpose of calculating market capitalization only the free float market value is considered, instead of the total number of shares.