07 May, 2021

The Bull Is Over ­The Moon

A wave of economic optimism is making the sensex soar to new heights. BSE index is looking at 35,000.

Celebration Day
People outside BSE as the sensex hit the 30K mark
Photograph by PTI
The Bull Is Over ­The Moon

That bull at Dalal Street has been on a rampage. In the last few weeks, there has been nothing but cheer from the stock markets. The benchmark Bombay Stock Exchange Sensex has crossed the hitherto unpreceden­ted level of 31,000 and the National Stock Exchange, NIFTY, is tantalisingly close to another unprecedented level of 10,000. At the time of going to the press, the sensex was well poised at 31,145 and the NIFTY at above 9,600.

Pushed by political and economic stability and a government that is showing strong intent to work coupled with a resolve to take the reforms process further, there is a lot of optimism in the market. This has brought back domestic investors, both retail and institutional, into the market, which has made it both robust and widespread.

What is heartening for investors is that the upward move has not rested yet and that the bull run will continue. Experts believe the market will rise further, at least in the short term. Goldman Sachs has predicted that the Nifty will cross the landmark of 10,000 by next year. Going by the current run,...

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