Sensex records sharpest May-month rally in seven years; gains 6.5%

The S&P BSE Sensex gained 6.5 per cent, or 3,154 points in May on optimism on economic rebound and progress in pandemic fight is expected to evince buying interest across major sectors.

The S&P BSE Sensex posted its biggest May month rally in the past seven years after a sharp surge in consumer discretionary, financials and Reliance Industries (RIL) stock. And if analysts are to be believed, there is still more room for an upside, albeit amid minor corrections on the way. The optimism is despite the second wave of Covid pandemic that brought the Indian economy to a near standstill yet again in 2021. This time, however, analysts believe the impact to be less severe as compared to 2020.