Watch: This day 12 years ago, Sensex welcomed UPA 2 by hitting double upper circuits

On this day 12 years ago, trading was suspended after benchmark indices Sensex and Nifty hit the upper end of the circuit filter twice. Reason? The  Manmohan Singh-led United Progressive  Alliance (UPA) had returned to power for a  second term and this time with a better majority. This enthused the markets on two counts -- one, it would lead to the continuation of earlier policies, and two, the government would be able to push through key reforms now that it was no longer dependent on the Left Parties for support.

This was the first time in Dalal Street's history that trading was halted due to markets hitting the upper circuit limit. The Sensex was locked at 14272.62 up 2099.21 points or 17.24 percent. Similarly, the Nifty was locked at 4308.05, up 636.40 points or 17.33 percent.

Udayan Mukherjee, while talking about the market then, said, “I don't know whose picture to put on the screen today. Whether it's the Manmohan Singh image or whether it's Rahul Gandhi or is it the Indian voters. This is some reaction. 20 percent higher in a single session frozen up circuit not once but twice a 10 percent circuit has never happened on the way up in our history and today we've got a double.”