The BSE Sensex index today moved past the 50,000 marks for the first time. During the pandemic, the financial stability of the country went haywire. This rise has shown great growth in the share markets and has taken care of the stock markets up to a record mark. The growth was also seen in the benchmark index that climbed as high as 0.7% to 50,184 during an intra-day trading yesterday. This was almost double the March mark. In the morning, the index broke across 50,000, with a gap-up opening that stayed way above the mark for most of the day. The gains saw a dramatic drop due to the reports of the deadly fire that broke out at the Pune Factory of India’s largest vaccine-maker. As of last recorded, the Sensex closed at 49,624.76.
Some of the local investors had bought the stocks during the pandemic, this is one of the reasons that the stocks’ rally seeded in March. However, no one had predicted that the stock’s rebound would happen so quickly so well. The central banks all around the world were adopting expansionary monetary policies so that they could tackle the financial crisis brought about by the pandemic. This led to foreign liquidity flowing into the Indian Stock markets attracting growth in the stock markets.
The increase in the equity prices also led to the faster-than-expected economic recovery that India witnessed. This just showed how the market and stocks can prove to be the biggest asset for the country and can help stabilize the financial conditions of the country.
Motilal Oswal, managing director and CEO of Motilal Oswal Financial Services said that he expects the market to continue with the upward growth. Over the past few months, great recovery has been witnessed and that makes everyone hopeful in the country. The positive global cues, foreign investor overflow, and strong corporate earnings kept the growth high.