On September 26, 2024, the BSE Sensex closed at an all-time high of 85,836 points. Two years on, the benchmark remains about 14% below that level, marking its longest wait for a fresh peak in a decade.
A combination of global uncertainty, sustained selling by foreign portfolio investors and muted corporate earnings growth has kept the index under pressure.
The two-year period has seen bouts of recovery, including in January and March 2026, but the market has been unable to sustain those gains.
The correction has been particularly sharp in IT, FMCG, realty and oil & gas stocks. In contrast, metals, PSU banks and pharmaceutical stocks have bucked the broader weakness, posting considerable gains despite heightened volatility.
The prolonged spell of volatility and range-bound trading could persist, with uncertainty over crude oil prices continuing to weigh on market sentiment.