Sensex's slowest 1,000-point march in recent times as it crawls to 53,000

The benchmark Sensex on Tuesday crossed the 53,000-mark for the first time. The index touched a high of 53,057 before settling at 52,589. The latest 1,000-point up move has been the slowest in the previous 10.

The 30-share index had first breached the 52,000-mark February 15, 2021. But dropped over 9 per cent to below 48,000 after that due to the selloff triggered by the lethal second-wave of covid 19 infections.

As a result, the journey from 52,000 to 53,000 has taken 85 days. The previous 1,000-point up move from 51,000 to 52,000 took just six trading sessions in February amid a global risk on rally following the inauguration of Joe Biden as the 46th president of the United States.

Sensex’s journey from 42,000 to 43,000 had taken 205 days as the index had plummeted to below 26,000 due to the sharp selloff triggered by the covid-19 outbreak in March 2020.