"This is the first time the Sensex has crossed 50,000 in the stock market".
For the first time in the history of the Indian stock market, the Sensex crossed 50,000. The coronavirus caused the country's economy to collapse. Although the country's economic situation has not yet fully reversed, the evidence that the market is recovering day by day was found once again last Thursday.
Last Thursday, the stock index rose 300 points and crossed 50,000. The Sensex reached 50,126.73 points on that day. Along with the Sensex, the Nifty rose to 14,738.30. Many years ago, in 1999, the Sensex crossed 5,000 points.
From there it took 8 years to reach 20,000. In May 2019, 40,000 Sensex crossed. It took another 2 years to increase the index by 10,000 points to 50,000. Market gains include Bajaj Auto, Bajaj Finserv, HCL Tech, Reliance Industries, among others.
The share price of these large companies has risen by about 1.43%. Market experts expect the US economy to turn around after the swearing in of new US President Joe Biden.
As a result, the export-oriented Asian market will also benefit. That's why Joe Biden's swearing in seems to be one of the reasons the market is moving upwards.