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The BSE Sensex, a gauge of the performance of India's leading 30 stocks, hit the 50,000 milestone for the first time on Thursday, a remarkable feat considering the country's gross domestic product (GDP) is set to post its biggest-ever contraction this financial year due to the impact of the Covid-19 pandemic. The proximate cause for optimism now is the anticipation of good third-quarter corporate results, and the introduction of market-friendly measures in the forthcoming Budget.
The index hit an intra-day high of 50,184, but gave up the gains to close at 49,625, down 167 points. Yet, the index is showing
