Sensex Chasing Gold To Reach 50,000 Level?

The Gold price in the Indian markets touched the historical high point of `51,500, price of 10 grams of gold in the third week of July 2020. The equity market has joined its own kind of gold hunt. After suffering severe beatings in February and March, the stock market has been steadily rising since the declaration of COVID-19 as a pandemic. The market rise at this time when the economy is in the doldrums is turning many eyebrows. Now the question that has arisen is whether the Sensex will breach the 50,000 mark from the July 23 level of 38,140 and climb far beyond the previous peak level at 41,952 reached on January 15 this year. The upward movement rose 9.81 per cent adding 3,409 points to the 30-stock Sensex after continuously rising day after day though six weeks from June 12. During that time, the 50-stock Nifty piled 971 points to reach the 11,215 mark, a growth of 9.48 per cent,...