Sensex Trades Above 50,000-Mark For First Time, Nifty Tops 14,700

Earlier today, Wall Street hit new records and stock markets across the globe climbed after US President Joe Biden took office

New Delhi:

In a historic day for India's stock market, the S&P BSE Sensex crossed the 50,000-mark this morning. The Sensex rose as much as 335 points to hit an all-time high of 50,126.73 and Nifty 50 index also moved past the 14,700-mark for the first time.

For several days, the Sensex had been on the verge of crossing the 50,000-mark. With the world's largest coronavirus inoculation drive underway in India, experts remain hopeful of continued uptick in the markets.

All the sectoral indices are reported to be in green. After touching a lifetime high of 50,126.73, the 30-share BSE index was trading 300.09 points or 0.60 per cent higher at 50,092.21 in opening deals. Similarly, the broader NSE Nifty surged 85.40 points or 0.58 per cent to trade at 14,730.10. It too scaled its highest level of 14,738.30 in early trade.

Bajaj Fiserv was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank.

While heavyweights in India - Reliance and HCL  - are doing well, globally tech giants led the United States markets to close at a record high.

On Wednesday, Reliance Industries's Rs. 24,713-crore deal to buy Future Group's retail assets was cleared by the Securities and Exchange Board of India (SEBI). The Bombay Stock Exchange (BSE) also granted its "no adverse observation" report to the deal the clearance from the market regulator that included some riders. Reliance shares rose 1.7 per cent, news agency Reuters reported.

Earlier today, Wall Street hit new records and stock markets across the globe climbed after US President Joe Biden took office, news agency AFP reported.

In Europe, Frankfurt ended with a gain of almost 0.8 percent and Paris was 0.5 percent higher, while London added 0.4 percent as the pound hit a new 2.5-year peak against the dollar.

Investors worldwide, according to reports, appear to have set aside concerns over the pandemic for now, though it continues to cast a shadow as governments in some countries keep lockdowns in place.
Investors worldwide, according to reports, appear to have set aside concerns over the pandemic for now, though it continues to cast a shadow as governments in some countries keep lockdowns in place.

In Hong Kong, Seoul and Tokyo were trading with significant gains in mid-session deals, news agency PTI reported.

(With inputs from AFP, PTI, Reuters)