Sensex jumps 50% from last Dussehra to scale 61,000 mark. 169 stocks give multibagger returns

Sensex jumps 50% from last Dussehra to scale 61,000 mark. 169 stocks give multibagger returns

India’s equity markets have generated huge wealth for investors since Dussehra last year as the benchmark indices scaled new highs, even though there was a pause in April-May due to the second Covid-19 wave.

The BSE Sensex has rallied more than 50 percent since last Dussehra on October 25, 2020, to surpass the 61,000 milestone on October 14, a day before Dussehra celebrations across the country this year.

The rally was boosted by hopes of a rapid economic recovery and corporate earnings in line with expectations or better. In addition, there was support from low interest rates, easy liquidity and measures by the government and the Reserve Bank of India to boost economic growth that had been hit by the pandemic.

“India’s growth and economic parameters continue to remain strong, keeping aside temporary situations,” said Mohit Nigam, head – PMS, at Hem Securities. “The Make in India initiative, China+1 strategy, the government’s aggressive approach towards growth and development, production-linked incentives, foreign investment, rapid vaccination drives, lifting of travel restrictions and easing of curbs over various industries are some of the major reasons that have helped to lift the market’s momentum this year and shall continue to play a key role in