New Delhi, Sept. 8 -- The Indian equity market has weathered repeated global and domestic shocks over the past four decades, yet maintained a strong long-term upward trajectory.

A historical analysis of the Sensex from 1985 to 2025 by a report from WhiteOak Capital showed that while volatility has been a constant, the benchmark index has grown from below 1,000 levels in 1986 to above 85,000 in 2024.

The graph in the report showed sharp declines whenever major crises struck.

In the early years, the Chernobyl nuclear disaster (1986) and the Iraq-Kuwait conflict (1990) led to steep corrections, with the Sensex struggling to hold above the 2,000 range.

Then Harshad Mehta scam (1992) caused a sudden fall, wiping out early gains. Similarly,...