Best of BS Opinion: Sensex hits 50K-mark, Biden's presidency starts & more

Here's a selection of Business Standard opinion pieces for the day

The Sensex achieved a statistical milestone on Thursday as it crossed the 50,000 mark before profit-booking pulled it down. At its intraday high, the index has nearly doubled from its low in March last year when corporate India was deeply concerned over business activity that came to a standstill due to the Covid-induced lockdowns. However, as our lead editorial argues, continued expansion in valuation would make the stock market riskier. If the Budget disappoints, there could be a correction in the market and investors must be prepared for that.
 

Other opinion pieces for the day, among other things, talk about mass movements in India and the new US president.
 

Far from being an annoyance, mass movements are the only legitimate way of engaging the government today, writes Aakar Patel
 

Donald Trump demonstrated that the US was an unreliable ally and he has done much to discredit the White House globally. From that new low, the task before Joe Biden, the oldest president to hold office, will be to make America great, notes our second editorial

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“Recent shifts in the macroeconomic landscape have brightened the outlook, with GDP in striking distance of attaining positive territory and inflation easing closer to the target. If these movements sustain, policy space could open up to further support the recovery.”

Reserve Bank of India