Sensex closes above 50,000 for 1st time, surges 3,970 points in 3 days

Sensex closes above 50,000 for 1st time, surges 3,970 points in 3 days

Indian equity markets extended their post-budget rally to the third straight day on Wednesday with the Sensex closing above the psychological level of 50,000 for the first time. Service sector PMI for the Month of January that came in at 52.8 as compared to 52.3 in the month of December 2020, also boosted sentiments along with positive global shares. The 50-share index closed 0.92% or 458 points higher at 50,255.75 and the Nifty settled 142.10 points or 0.97% higher at 14,789.95, a record closing high. Gains in the market were led by banking and pharma shares with their respective sub-index on Nifty rising 1.43% and 2.79% respectively.

Among Nifty stocks, IndusInd Bank was the top gainer, up 7.47% followed by Power Grid Corp and Coal India, which gained 6.28% and 4.61% respectively. Dr Reddy’s Lab, Divis Labs, Cipla, Sun Pharma, IOC, NTPC, Axis Bank, Titan Company, Hero MotoCorp, Tech Mahindra, M&M, Tata Steel, Adani Ports, BPCL, HDFC, Bharti Airtel were the other prominent gainers in the Nifty, rising between 1.52% to 3.71%.

News source : Times Now

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