Does 30,000 on the Sensex really matter?

Seasoned investors don't care as much about the milestone as the journey

30,000 is a nice round number. The BSE exchange's benchmark index, the Sensex, closed above this level for the first time in history last week. There have been calls for celebration and caution at the same time.

Is this a significant milestone? If you look at the previous two 10,000-point milestones on the index, I don't remember Mt 10,000 as much as I recall 20,000. The latter peak is etched in memory because of the euphoria it came with and the painful fall that followed. One needs to google to find out that 10,000 was crossed sometime in February 2006.