Sensex scales 60,000 as stocks continue to rally
The Hindu
The index has risen about 10,000 points in a few days short of eight months, since crossing 50,000 on February 3.
The S&P BSE Sensex on Friday crossed the 60,000 mark to reach 60048.47, gaining 163.11 points or 0.27% with buying support. The index has risen about 10,000 points in a few days short of eight months, since crossing 50,000 on February 3.
The market had been performing well over the last few quarters owing to ‘huge liquidity, upward earnings cycle, economic revival owing to fading COVID-19 effect’, said Piyush Garg, CIO — ICICI Securities Ltd..
“However, market participants should be wary of rising inflation and resulting removal of liquidity from the system. During [calendar year] 2021, some central banks, namely Russia, Korea, Ukraine, have raised rates,” he said.
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