Manish Gajbhiye
Aurangabad, Nov 10:
The Bombay Stock Exchange Sensex index took a huge leap to 60,000 points recently. Moreover, the record move of 10,000 points was achieved in very few trading sessions. It took only 167 trading sessions to gain 10,000 points leap from 50,000 points to 60,000 points as compared to the 931 average sessions.
The experts have opined that it is a very positive scenario for the stock market and the index is likely to reach the 75,000 points mark by March, 2022.
From March 2020, the stock exchange has seen a recovery phase. There are several factors responsible for the rapid recovery. The global recession and the Covid-19 pandemic situation lowered imports. Moreover, the local industries encashed the situation and boosted the Indian Economy. Moreover, the investment in the stock also increased in the past few months, the experts opined.
Investment consultant Kishor Soni said there are several factors responsible for the boost in the share market. The major is the boost to domestic manufacturing. The mutual funds and SIP corpus is increasing at a huge level. The young investors got the opportunity and ample time during the pandemic to be active in share trading. The situation in the market is positive and optimistic. The long-term investment can yield the desired results for the investors, as no other asset category gives returns other than the share market, he said.
Financial consultant and planner Sandeep Karwa said that the present government has boosted domestic manufacturing due to which the imports had reduced. It was seen during Diwali that the Chinese articles, which were predominantly consumed earlier were reduced by almost 70 per cent giving impetus to the local industries. Moreover, the government has taken initiative to boost the market by opening IPOs and fast recovery of Goods and Service Tax (GST). It is a win-win situation for the investors but with precaution, Karwa mentioned.