Scaling 50,000 to 56,000 in just 7 months, Sensex surprising even incorrigible optimists: Analysts

Analysts added that gradual pickup in economic activities after states started unlocking and ramp-up of vaccination drive have lifted market sentiments.

From scaling Mount 50,000 in January this year to breaching the 56,000-mark for the first time on August 18, equity benchmark Sensex is "consistently surprising even the incorrigible optimists", analysts said. The remarkable rally comes in the wake of equities going into a tailspin in March 2020, with the 30-share BSE index plunging a massive 8,828.8 points or 23% during that month as concerns over the pandemic's impact on the economy jolted investor sentiment. "However, the journey of the market has been volatile with sharp ups and downs unnerving the short-term investors and traders. The future would be no different," said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services.