Sensex has first time ever crossed the magical 50000 figure. It has come as a ray of hope and help build confidence among investors and corporate amid the faze of covid pandemic.
The S&P BSE Sensex is expected to touch 50,000 by the end of next year against an earlier target of 37,300 by June 2021, the global investment bank and financial services company said in a note, as it maintained an ‘overweight’ rating on India. But the year 2021 has come with lots of positivity as the 50k is touched in just January.
“Covid-19 infections appear to have peaked, high-frequency growth indicators are coming in strong, government policy action is beating expectations, and Indian companies are picking up activity through the pandemic. Thus, we expect growth to surprise on the upside, rates trough to be behind, and real rates to remain in negative territory for several months,”
The rise in the market is considered as a result of President Joe biden. The world market is also showing positive rise. Same is in India. The magical 50k sensex will surely help indian investor to trust in the market. The 5k sensex is also a sign of relief after covid Pandemic. Experts believe that economy is on the track and it has so quickly overcame the effact of Covid crisis.