Sensex at 60K by December end? Here's what analysts say
Bulls continued their March on Dalal Street for the second straight session today amid a rally in global markets, fall in daily coronavirus cases below 1 lakh for the fourth consecutive day and early arrival of monsoon in the country.
Sensex zoomed 341 points to scale a record high of 52,641 in trade today against previous close of 52,300. Nifty rose 98 points to lifetime high of 15,835 against previous close of 15,737. Market cap on BSE rose to a record high of Rs 231.52 lakh crore today, clocking a gain of Rs 129.66 lakh crore or 127.29% compared to the March 23 low of last year.
On March 23, 2020, BSE market cap fell to Rs 101.86 lakh crore after rising number of cases in India and the resultant lockdown in a majority of states took a heavy toll on the financial markets. While Sensex closed 3,934 points lower at 25,981, Nifty ended 1,135 points lower at 7,610.
During the session, Sensex hit an intraday low of 25,880 and Nifty fell to 7,583.
With a significant rally in stock …
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