On September 24, ie in today’s trading, the Sensex has managed to close above 60,000 for the first time. In today’s business, there was strong buying in all sectors except auto. With the ease of China’s Evergrande Crisis, people’s willingness to take risks appeared to increase, due to which the market was seen touching new highs.
Post-Covid Crisis, the market has seen a recovery since April 2020 and has remained strong with intermittent consolidation and mild corrections. This is a good sign for the market.
All the steps taken by RBI and the government to bring the economy back on track. .
On January 21 this year, for the first time, the Sensex touched the level of 50,000. After that it took the Sensex eight months to reach 60,000. On the other hand, Nifty is also seen moving towards 18,000 after hitting a new high of 17,947.65 today.
This stock gave 4 times profit in one year, know from analyst how much power is left
Shrikant Chauhan of Kotak Securities says that the Sensex touching the level of 60,000 is a big achievement for India. At a time when there is uncertainty in the whole world, this achievement becomes even bigger.
Looking at the gainers in the Sensex’s journey of 50,000 to 60,000, there have been 42 stocks in the BSE 500 index that have proved to be multibaggers in this eight-month period. These stocks saw an increase of 150-370 per cent during this period.
These include JSW Energy, Balaji Amines, Happiest Minds Technologies, Adani Total Gas, Adani Transmission, Linde India, Gujarat Fluorochemicals, Adani Enterprises, Mindtree, Deepak Fertilizers, IRCTC and KPIT Technologies.
Apart from this, there are such stocks like Indian Energy Exchange, Deepak Nitrite, IIFL Finance, DCM Shriram, Persistent Systems, KPR Mill, HEG, HFCL, Lux Industries, Century Textiles which have seen gains of 100-149 per cent in this period.
Analysts say that the results of the companies and the economic data will support the market going forward. If there is a fall in the market, then the reason for this will not be domestic but global. Market players believe that the market has no fear in cutting the US Fed’s bond purchase plan. Shrikant Chauhan also says that good results of companies will support the market in the coming months.
Chouhan says investors would be advised to buy from a long and medium term perspective only in companies with good management and strong fundamentals. It would also be advisable not to invest all your money in one go or two, but adopt the strategy of buying quality stocks in intermittent downtrends.
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