Sensex soared 7,700 PTS in 7 months for a scale of 55k peak

TNN Mumbai: almost seven months after passing a 50K milestone, Sensex on Friday crossed a 55K sign for the first time in its history.
Rally in Dalal Street this year has been assisted by a combination of local and global factors, including a slow but stable vaccination drive, which, although it has not fully controlled the pandemic.
During the day, led by two heavyweight – TCS and RIL – Sensex rose by almost 600 points to close at 55,437, while Nifty passed the level of 16,500 for the first time and closed at 16529 points.
So far in 2021, Sensex has gained almost 7,700 points or 16%.
According to market experts, a number of reasons have been behind a plus 7,000 point increase in Sensex.
The Stance Policy accommodating RBI to support growth, a stable exchange rate is assisted by wise central bank interventions, positive foreign funds and sustainable purchases by retail investors through mutual funds have helped the benefits of almost all industries.
In addition, the stable IPO flow of good companies that have advantage of positive listings for investors, drives pan-india vaccination with local locking and strong company results because the debt burden of most companies fell also helped rally in Dalal Street, they said .
On Friday, Sensex opened slightly higher and raved through the session to reach all time high at 55,488 points and closed only a little from that level.
Of the 30 sensex constituents, 20 closed with an increase with TCS, RIL, HDFC banks and infosys together contributing more than half of the index.
The rally that day also raised the wealth of investors to all time high with the capitalization of BSE markets now at RS 242.5 Lakh Crore, translating slightly more than $ 3.25 trillion.
According to Joseph Thomas, the Head of Research, Emkay Wealth Management, Rally in the Frontline Index and the main sectors continued amid optimism about the company’s revenue in the coming months and the continuation of soft money policies by the central bank.
“The week at this time saw Nifty and Sensex touched the highest of all time, inviting even those who were on a side line to join.
The equity fund saw an excellent inflows last month, both because of Lump Sum and SIPS, and the continuation of the same trend can Seeing higher creeping markets.
Advantages in class classes and Smallcaps are quite ignored, even though the sectoral indexes such as banking, Pharma and technology continue to grow, “Thomas said.
In addition to expectations of economic revival driven by normal monsoons, strong economic data from the US and the United Kingdom in recent weeks have also helped benefit in the past few days, said Thomas.