Mumbai: The S&P BSE Sensex crossed the historical milestone of 50,000 in Thursday’s session as the Indian benchmark indices scaled fresh lifetime highs, on the back of favourable global cues.
The S&P BSE Sensex gained 270 points at 50,070 levels and the Nifty50 index was trading above 14,700-mark. Bajaj Finance and Bajaj Finserv rose 4 per cent and 3 per cent, respectively, after announcing their December quarter results, while Bajaj Auto gained over 1 per cent ahead of its quarterly results announcement, later in the day.
The Nifty sectoral indices were painted green, led by Nifty Auto index, up 1 per cent.
In the broader markets, the S&P BSE MidCap and SmallCap indices gained 0.7 per cent and half a per cent, respectively.
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Market View :: Deepak Jasani, Head of Retail Research, HDFC Securities
It is a momentous day for India’s capital markets as the Sensex touched 50,000 on Jan 21. The gain of last 5,000 points has come in just 32 trading sessions. Expectations of turnaround in the economy post Covid vaccinations and continued FPI inflows have led to this kind of gains for Indian markets in a globally low interest scenario. Post the Forthcoming Union Budget we may witness a temporary brake to the uptrend and further upmoves from hereon will depend on the pace of economic and corporate earnings growth and the trajectory of inflation and interest rates in India and the world.