Sensex hits 75K in pre-election rally; on track to hit 81,000, charts say

The BSE benchmark gained the last 5,000 points in just four months, with the rally gaining momentum in the last one week on hopes of stronger-than-expected Q4 corporate earnings.

The S&P BSE Sensex, on Tuesday, crossed the 75,000-mark for the first time ever, hitting a new all-time intraday high at 75,124. It took barely four months to rally from 70,000 levels to the 75,000 mark. The last 10,000 points have come in little over nine months.

The main catalyst behind the current uptrend, analysts said, is the hope of stronger-than-expected corporate earnings for the March 2024 quarter (Q4-FY24) and a pre-election rally, which is fueling the momentum over the past one week.

“Investors are pinning hopes on strong Q4 earnings. We also assume that domestic growth in