This journey of Sensex from 50,000 to 56,000 took 7 months. In this rally, 93 stocks have given 50 per cent returns. Chemical, metals, graphite and technology stocks dominate this list. Experts say that the level of 57,000 can be seen in the Sensex soon.
The market has remained bullish so far this year. However, in between, correction and consolidation have also been seen in it. But no major decline has been observed. The economy was largely open during the second wave of Corona. Now the Sensex and Nifty are scaling new heights for the last 6 months due to the further progress of the lockdown process in the states, buying by retail investors, softening of interest rates, good quarterly results and slow growth.
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Looking at the market data, the BSE Sensex was at the level of 50,000 on January 21, 2021. It touched the level of 56,000 on 18 August i.e. today. It took Sensex 7 months to travel these 6000 points. In the same period, Nifty gained 2,111 points and today it also touched a new high of 16,701 in intraday.
Looking at the previous data, the market has shown a double increase from the low levels of March 2020 so far. The market has seen a gain of 115 percent from the low levels of March 2020. The market is getting support from rising vaccination and vigorous global liquidity.
VK Vijay Kumar of Geojit Financial Services Says that the market is continuously surprising even the big optimists by putting highs on highs. The Sensex hit the 56,000 level this morning. Since its inception in the base year of 1979, the Sensex has multiplied 560 times so far. In the last 42 years, the Sensex has given investors about 15 per cent annual returns. Vijay Kumar believes that most of the credit for the bull run in the market goes to the retail investors.
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In this journey of 6000 points of Sensex, 28 stocks included in BSE500 index have proved to be multi-bagger. These include Happiest Minds Technologies, JSW Energy, Balaji Amines, Gujarat Fluorochemicals, Adani Total Gas, Adani Enterprises, IIFL Finance, Lux Industries, eClerx Services, HEG, Adani Transmission, Tata Steel, Alkyl Amines Chemicals, JK Lakshmi Cement, BASF India, JK The names of Paper, Intellect Design Arena, Graphite India and KPR Mill are included.
These stocks have seen gains of 100-273 per cent in 7 months. In this rally, 93 stocks have given 50 per cent returns. Chemical, metals, graphite and technology stocks dominate this list. Experts say that the level of 57,000 can be seen in the Sensex soon.
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