Recently when Sensex breached (for a few moments) the 30000 mark on Sensex, Anchors on CNBC-TV18 dressed up with T-Shirts with 30000 printed in bold numbers (and in Red for added effect).
Way back in 2007, with Sensex breaching one round number after another, it was a series of parties in the studios of business channels. But I wonder if television anchors celebrated when Sensex crossed above the 25600 mark.
Whats so important you may ask about the 25.6K mark. Well, it signified the 8th instance of Sensex doubling in price. Below is the table as to when we crossed the mark and how many days it took to achieve it.
The fastest double for the Sensex came in 1990 when it doubled in just 188 days (all calculations are on calendar days and not trading days). The slowest on the other hand took all of 4656 days (translating into 12.75 years).
Average time taken by Sensex to double is around 4.5 years. 51200 is the next double number & I do wonder if we shall scale that peak by 2020