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44,000 on Sensex: Where is the index headed - 50,000 or 100,000?

We see Sensex at 45,000 before 2020 and 50,000 in 2021 are possible if this momentum continues. Over the past 10 Samvats, Sensex has given a 7.57 % compounded return and in Dollar terms, say experts.

November 17, 2020 / 04:06 PM IST

After a roller-coaster October, November started on a robust note when the S&P BSE Sensex not just climbed above 42,000 to reclaim previous record highs but went on pushing the boundaries towards 43,000 and then on November 17 it hit 44,000 in early trade.

Indian market witnessed a steady rise after hitting a 3-year low back in March. Investors’ wealth in terms of the average market-capitalisation of the BSE-listed companies rose by about Rs 40 lakh crore since April.

The rally which was narrow in the beginning largely focused on few sectors could become more broad-based in the near future, suggest experts. The momentum will soon take Sensex towards 50,000 in 2021, and possibly 100,000 by 2024, they say.

“We see Sensex at 45,000 before 2020 and 50,000 in 2021 are possible if this momentum continues. Over the past 10 Samvats, Sensex has given a 7.57 % compounded return and in Dollar terms, a paltry 2.09%,” Dipan Mehta, Director at Elixir Equities Pvt. Ltd told Moneycontrol.