Sensex at 50,000 just a psychological mark, be watchful, say experts

Gush of foreign money chasing equities and valuations well past the earlier high makes a ripe case for profit booking

Twitter was coloured with pictures of BSE’s employees taking to the stock exchange’s terrace and flying balloons. Indeed, for those at India’s oldest stock exchange, the BSE Sensex touching the 50,000 mark was a momentous occasion.

Apart from being a very short rally from 40,000 to the next milestone of 50,000 points, what makes the situation very peculiar is the resounding bullishness coming from all corners of the market and a near marginalisation of those who prefer to stay on the sidelines or opt to be cautious.

“Even people who were extremely watchful of not being swayed either sides earlier