While the Sensex has had a stellar journey to the 39,000-mark in the last 40 years, these have been a few stocks including Reliance Industries and Tata Motors which have been in the index since inception.
Even as the Sensex surged to fresh record high, crossing the 39,000-mark for the first time in 40 years, there have been a few heavyweight stocks including Reliance Industries and Tata Motors have been a part of the index since its inception. Notably, Ashish Chauhan of BSE recently shared the components of the initial 30 components of Sensex.
The 30 components at inception include Asian Cables, Ballarpur Industries, Century Textiles, Bombay Dyeing, Reliance Industries, Grasim, Indian Rayon, Great Eastern Shipping, Siemens, Pieco Electronics, Tata Power, Tata Steel, Hindustan Aluminium, Tata Engineering, L&T, Kirloskar Cummins, Premier Automobiles, Hindustan Motors, M&M, Mukand Iron, Bharat Forge, GSFC, Indian Organic, Hindustan Lever, Glaxo, Nestle, Ceat Tyres, Voltas, Indian Hotels and ITC. Out of these just seven firms bluechips Tata Motors, HUL, ITC, L&T, Tata Steel, M&M and RIL are currently in the Sensex. It is to be noted that some of these scrips may have exited the index and made a comeback into Sensex in the last 40 years.
— Ashish Chauhan BSE (@ashishchauhan) April 2, 2019
Interestingly, the Sensex has scaled yet another high crossing the 39,000-mark in its 40th year continuing its robust growth over the years. Notably, the 30-share Sensex came into being on April 1, 1979 with a base value of 100. The growth over the last 40 years represents a 16% CAGR return to the shareholders. After taking into account the dividends, the value of Sensex stands at a whopping 56,000. “If we take dividends into account, on a total return basis, it would be close to 56,000. Congratulations India for the stupendous growth,” Ashish Chauhan, CEO of Bombay Stock Exchange noted in a recent tweet.
Meanwhile, the Sensex pared gains on Thursday, after the central bank RBI kept its stance unchanged even as it cut the key policy rate by 25 basis points to 6 per cent. The Sensex is down about 170 points to 38,707.52. According to Sanjiv Bhasin of IIFL, Sensex is on course to hit 42,500 by December 2019. “I am very bullish on the market, and expect Sensex to hit 40,200 in the near-term. Everyone will wait for the election results and post that I expect Sensex to touch 42,500 by 2019-end,” Sanjiv Bhasin, Executive Vice President- Markets, IIFL said in a recent interview with Bloomberg Quint.