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Business News/ News / India/  ‘Couldn't have been more wrong’. Nithin Kamath said this as Sensex breached 60,000
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‘Couldn't have been more wrong’. Nithin Kamath said this as Sensex breached 60,000

BSE Sensex crossed the 60,000-mark on Friday, showing resilience against the pandemic-led disruption. The benchmark index has gained 25.75 per cent so far this year

Zerodha co-founder Nithin Kamath (MINT_PRINT)Premium
Zerodha co-founder Nithin Kamath (MINT_PRINT)

Sensex crossed a new milestone before closing the week on Friday. The benchmark index reached 60,000 points in trade today with the fastest-ever pace for a 10,000-point growth.

As bulls charged, Zerodha co-founder Nithin Kamath confessed doubting the market's strength. He took to Twitter to state that his over 20 years of experience did him no good in predicting the market's movement over the past year and a half.

“The crazy bit about the last rally is that every day I get up thinking s**t is going to hit the fan. I have been in the markets for 20+ years and run a brokerage, despite that I couldn't have been more wrong about my market predictions in the last 18+ months," Kamath wrote on the microblogging site.

BSE Sensex took more than 31 years to grow from 1,000 points to 60,000 points. It touched the 10,000-mark for the first time on February 6, 2006. On October 29, 2007, it scaled the 20,000 level, and then on March 4, 2015 surged above the 30,000-mark. The BSE benchmark scaled 40,000 on May 23, 2019. The 50,000-mark was reached on January 21, 2021.

Interestingly, both the 50,000 and 60,000 levels have been breached in 2021, after crashing to multi-year low in March 2020 due to the Covid-19 pandemic.

The BSE benchmark index has gained 25.75 per cent so far this year, showing resilience against pandemic-led disruption. The market capitalisation of BSE-listed companies has also been soaring and is currently at 2,61,18,539.92 crore.

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Published: 24 Sep 2021, 10:00 PM IST
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