What Sensex cheer means for the real economy?

India’s key benchmark index Sensex on Thursday momentarily crossed 50,000 mark for the first time in history, led by gains in shares of Bajaj Auto, Bajaj Finance, and Reliance Industries. The 30-share index has been witnessing a steady rise after hitting a record low in March 2020 after India announced strictest lockdown to contain virus. Sensex is up 20 per cent year-on-year. ETCFO finds out the reason behind the cheer and its implications for the real economy.