S&P BSE Sensex rose more than 50,000 for the first time on Thursday, led by Reliance Industries earnings following Reliance Industries’ approval of the 24.713-Rs SEBI regulatory market for the Future Group retail asset, in a blow to the efforts of Amazon deal. BSE also released its report “without negative comment” after the agreement was cleared by the market regulator, with some riders. The Sensex rose 335 points to an all-time high of 50,126.73 and the Nifty 50 also moved 14,700 points for the first time.
As of 9:18 a.m., Sensex rose 222 points to 50,038 and the Nifty 50 rose 63 points to 14,708.
Meanwhile, other Asian markets also rose to new highs on Thursday as U.S. markets rallied as investors hoped for more financial incentives from newly-inaugurated US President Joe Biden to offset the damage caused by the COVID-19 pandemic. .
US President Joe Biden, who was sworn in on Wednesday, last week unveiled a $ 1.9 trillion stimulus package to boost the economy and speed up vaccine distribution.
Return to our homeland, better than expected corporate profits, hopes for bold economic reforms in the upcoming budget and continued purchase by foreign institutional investors, keeping investors’ feelings up in the stock markets.
Markets were visible in various sectors, as all sector indices, excluding the metal stock index, traded higher, with the 1% gain of the Nifty Auto index. Nifty Bank, IT, Media, Pharma and Private Bank indices also rose more than 0.5%.
Medium and small capital stocks aligned with their larger counterparts, as the Nifty Midcap 100 and Nifty Smallcap 100 rose 0.7%.
Bajaj Finance was Nifty’s top gainer, the stock rose 3% to Rs 5,143 after the lender reported a 29% year-on-year decrease in consolidated net profit to Rs 1,145.98 million for the three months to December higher losses and forecasts.
Tata Motors, UPL, Bajaj Finserv, IndusInd Bank, Reliance Industries, HCL Technologies, Eicher Motors, Hero MotoCorp, Shree Cement, Dr Reddy’s Labs and Wipro also rose between 1-3.5%.
On the other hand, Adani Ports, TCS, HDFC, Tata Steel, GAIL India, JSW Steel, Bharat Petroleum and HDFC Bank were among the notable losers.
The overall market share was positive as 1,444 shares rose while 614 fell in BSE.