INSUBCONTINENT EXCLUSIVE:
BSE CEO Ashish Chauhan said Sensex reaching 60k is an indicator of India's growth potential.New Delhi: Equity benchmark Sensex crossed the
psychological 60,000-mark on Friday for the first time ever
The 30-share BSE index climbed the last 10,000 points at a record pace
It took just eight months for the Sensex to jump from 50,000 to 60,000-mark
It touched 50k-mark in January this year and hit 60k in September.In an exclusive chat with TheIndianSubcontinent, BSE Chief Executive
Officer (CEO) Ashish Kumar Chauhan said that, "In May 2019, I had said that we should be able to reach 60,000 in the next five years
But, it happened in just two-and-a-half years instead of five
India's Sensex story is here to stay
60,000 is not the end, it's just the beginning of the Sensex story.When asked if India's stock market is in a bubble, Mr Chauhan said, "It
has been described as a bubble for the last 42 years
Sensex is a real time number and not a past number -- like GDP (Gross Domestic Product) number -- nor a future prediction."The BSE Chief was
also asked if the stock market investments are safe? To which, he replied, "For the last 8-10 years, stock market investments are safe but
before that it was not the case
But now, market investments are profitable and safe.On new investors, he said, "New age brokers have started opening accounts very
We are getting more than one lakh investors coming into the Indian stock market for the last several months, especially during COVID and
that's telling you the kind of pressure coming through the hinterland.""With eight crore investors, we are almost competing with the number
I think slowly Indian investors are becoming key political constituency too," he added.Adding a piece of advice for the investors, he
stated, "Try to be cautious
Invest on your caution rather than your hope
When markets go up further, you (investors) need to be more cautious.""Sensex reaching 60,000 today is an indicator of India's growth
potential, as well as the way India is emerging as a world leader during COVID period in addition to worldwide monetary expansion and
relaxed fiscal policies adopted by world powers," Mr Chauhan said earlier in the day."The increase in stock prices has been broad based in
I take this opportunity to congratulate all Indians citizens and investors for this achievement," he added Sensex was at 1,000 points in
1990 and took nearly 25 years before it touched the 30k-level in 2015
The index has climbed from the 30k-mark to 60,000 in a little over six years.
