Sensex hits 50,000 mark

21 Janvier, 2021, 07:20 | Auteur: Auguste Feret
  • The index had taken a knock of more than 1000 points weighed down by expensive valuations and the likelihood of tougher RBI rules for the larger shadow banks

Similarly, the broader NSE Nifty surged 85.40 points or 0.58% to trade at 14,730.10.

In the previous session, the Sensex had advanced by 393.83 or 0.80% to close at its fresh record of 49,792.12, and the Nifty had jumped 123.55 points or 0.85% to settle at a lifetime high of 14,644.70.

"The liquidity expansion by the central bank and the ample FII driven liquidity, a V shaped recovery of growth aided by the discovery of vaccine, and most recently the change of guard in U.S. have been some of the factors propelling markets higher and higher". Most foreign investment banks are overweight on global equities and believe the Indian markets despite stretched valuations can deliver positive returns for 2021.

After touching a lifetime high of 50,126.73, the 30-share BSE index was trading 300.09 points or 0.60% higher at 50,092.21 in opening deals.

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Chinese blue-chips added 1.2 per cent, Australian shares climbed 0.69 per cent and Hong Kong's Hang Seng breached the 30,000 level, rising 0.31 per cent.

US President Joe Biden has assured a massive stimulus in the US, which is keeping the global stock markets buoyant. When the Sensex crosses the 50,000-mark, the index would take its compounded annual growth rate returns to 15.5% for the period between 1979 and 2021.

Equities have been hitting record highs since November previous year, which means that the markets have been making fresh records for three straight months.

The rises in Asia followed fresh record highs on Wall Street overnight.

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 per cent. On Thursday, e-mini futures for the S&P 500 ticked up to new records and were last up 0.26 per cent.

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