New Delhi: It took just eight months for the BSE benchmark Sensex To cover the journey from 50,000 in January this year to cross the unprecedented 60,000 mark for the first time on Friday.
strong bull rally on Dalal Street The benchmark index has gained 10,000 points after the benchmark index reached 50,000 points in intra-day trade on January 21, 2021.
“The roaring bull market in the Indian market continues with all walls of worries climbing where the Sensex has crossed the new milestone of 60,000. We are in a classical bull market like the 2003-2007 phase where This uptrend is likely to continue for the next 2-3 years,” said Santosh Meena, head of research, Swastik Investmart.
However, he cautioned after a parabolic move in the past few days as a short-term correction cannot be ruled out in the coming days.
This year has so far been of the bulls as the markets have scripted many historical adventures. The benchmark index has gained over 25 per cent so far this year.
“Sensex swings past 60K mark as risk appetite improves after fears around evergrande The debt crisis subsided. Anand James, chief market strategist, Geojit Financial Services, said the BSE moved nearly 60 per cent of the shares in the first hour.
But he is keeping an eye on markets likely to hike rates. U.S. Treasury Yields have started to strengthen after weak signals from the Fed.
The benchmark closed above 50,000 for the first time on February 3 this year. Since then it has set several records from the 51,000 mark in intra-day trade on February 5 to the level of 59,000 on September 16.
Sandeep Bhardwaj, CEO, Retail, IIFL Securities said, “Expectations of solid economic recovery and sustained growth in the next few years are encouraging the bulls.”
According to Motilal Oswal, MD & CEO, Motilal Oswal Financial Services, “Equity markets today had a historic day, with Sensex touching 60,000 for the first time, with several index heavyweights hitting new highs.”
The rally in the domestic market is driven by positive global cues, strong inflows by FIIs/DIIs, good corporate earnings, falling COVID-19 cases, upbeat corporate comments and lower cost of capital, he said.
He further added that amid bullish sentiment and increased activity, valuations have moved higher and demand a consistent delivery on earnings expectations.
“Given the high valuations, intermittent volatility cannot be ignored,” Oswal said. However, we expect the positive momentum to continue on the back of improving economic activity and improving corporate earnings.
strong bull rally on Dalal Street The benchmark index has gained 10,000 points after the benchmark index reached 50,000 points in intra-day trade on January 21, 2021.
“The roaring bull market in the Indian market continues with all walls of worries climbing where the Sensex has crossed the new milestone of 60,000. We are in a classical bull market like the 2003-2007 phase where This uptrend is likely to continue for the next 2-3 years,” said Santosh Meena, head of research, Swastik Investmart.
However, he cautioned after a parabolic move in the past few days as a short-term correction cannot be ruled out in the coming days.
This year has so far been of the bulls as the markets have scripted many historical adventures. The benchmark index has gained over 25 per cent so far this year.
“Sensex swings past 60K mark as risk appetite improves after fears around evergrande The debt crisis subsided. Anand James, chief market strategist, Geojit Financial Services, said the BSE moved nearly 60 per cent of the shares in the first hour.
But he is keeping an eye on markets likely to hike rates. U.S. Treasury Yields have started to strengthen after weak signals from the Fed.
The benchmark closed above 50,000 for the first time on February 3 this year. Since then it has set several records from the 51,000 mark in intra-day trade on February 5 to the level of 59,000 on September 16.
Sandeep Bhardwaj, CEO, Retail, IIFL Securities said, “Expectations of solid economic recovery and sustained growth in the next few years are encouraging the bulls.”
According to Motilal Oswal, MD & CEO, Motilal Oswal Financial Services, “Equity markets today had a historic day, with Sensex touching 60,000 for the first time, with several index heavyweights hitting new highs.”
The rally in the domestic market is driven by positive global cues, strong inflows by FIIs/DIIs, good corporate earnings, falling COVID-19 cases, upbeat corporate comments and lower cost of capital, he said.
He further added that amid bullish sentiment and increased activity, valuations have moved higher and demand a consistent delivery on earnings expectations.
“Given the high valuations, intermittent volatility cannot be ignored,” Oswal said. However, we expect the positive momentum to continue on the back of improving economic activity and improving corporate earnings.
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