Sensex above 60,000: Time to rejig portfolio and buy the dips:Analysts
Published On: Friday, September 24, 2021 | By: Team KnowMyStock
The 30-share Sensex index scripted history today(24th Sept.2021) as it breached the 60,000 marks for the first time. The BSE barometer hit an all-time high of 60,333 and took just 91 sessions to climb the latest 10,000-points rally. It had hit the 50,000-mark for the first time on May 18, 2021. While expensive valuations and a cautious global mood given the developments in China and the possibility of a third Covid wave may trigger mild profit booking in days ahead, most analysts remain optimistic and suggest a market correction, if any, should be bought into from a medium-to-long-term perspective.
“Over the next few years, one can get 12 – 15 per cent compounded return form the market. Frontline indexes can double from the current levels over the next five years. A 10 – 15 per cent correction can happen at the index level in the short-term, but such corrections are par for the course. In the last 20 years, only in two calendar years we did not have a 10 per cent correction. A prudent strategy will be to buy the dips rather than sell stocks on a rise,” suggests analysts.
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