Sensex defies gravity, climbs mt 60,000 in quick time

The BSE Sensex cracked a new lifetime peak of 60,000 on Friday. It took merely 167 trading sessions to leap from 50,000 points to 60,000—the fastest pace ever for a 10,000-point move. Its peer index Nifty too came tantalisingly close to the 18,000-level, but held forth its exuberance for another day. Having crossed new thresholds of statistical significance twice this year, experts believe that Sensex’s fortunes from 60,000 to 1 lakh is only two-three years away.

The ongoing market rally also comes just 18 months after the March 2020 carnage, when a vulnerable Sensex crashed down to the 25,000 level as the Covid-19 pandemic wrecked lives and livelihood. Notwithstanding the human and economic misery, investors have found a fresh wind, placing their bets on the underlying strength of Asia’s third-largest economy.