Sensex crossed 85K for first time 2 years ago, now down 10K points from milestone. What can trigger the next bull run?
BSE moved lower in a quarterly results development.
23 Sept 2026 · Economic Times Markets, ET Stocks, LiveMint Markets
Two years ago, Sensex soared to an impressive 85,000, but the market has seen a steep decline since then. This downturn is attributed to several factors, including high crude oil prices and geopolitical instability. Analysts believe a change in macroeconomic conditions could help the index bounce back, relying heavily on the performance of large-cap stocks and improved earnings.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- This is a market-wide development — its reach goes beyond any single stock.
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