Sensex reaches near 50 thousand, Nifty also closes for the first time beyond 14,500

After yesterday’s record rise, the stock market has closed at a new level. For the first time, the BSE Sensex has closed beyond 49,517 and the Nifty crossed 14,563. Banking and auto stocks led the market rally on Tuesday. In this, the shares of public sector banks were the largest purchases. State Bank (SBI) stock closed up 3.65%.

Sensex closes 437 points above the day’s low

The Sensex closed up 247.79 points at 49,517.11 due to the rise in key stocks. The index had slipped to 49,079.57 amid initial declines. However, in the end, it recovered 437.54 points. Today, shares of 3,253 companies were traded on the BSE. It closed with a gain of 1,687 and a fall of 1,407. 387 shares made a one-year new high. Due to good growth, the total market cap of listed companies has crossed Rs 197.47 lakh crore for the first time.

Also Check: Heritage Foods out of Future Retail, sold the entire stake for Rs 132 crore

Record rise in Nifty

Similarly, the Nifty index has also closed at 14,563.45, up 78.70 points. Tata Motors was the top gainer in this. The stock has closed up 7.52%. The stock closed up 12% yesterday as well. GAIL’s stock has also closed up 4.68%. Apart from this, shares of Bharti Airtel, SBI and Coal India also gained 3-3%. On the other hand Asian Paint shares closed down 3.24%. Shares of Titan and Nestle India also lost 2–2%.

Sectoral edge on NSE

The largest purchases were recorded in the public sector banks returned in the afternoon. The Nifty PSU Bank Index has closed up 5.97%. Bank of Baroda shares closed up 10.66%. Besides, the realty index closed up 2.76%, the media index 1.38%, the auto index 1.24% and the bank index closed up 1.06%. DLF’s share in realty closed up 10%.

Also Check: How to Find a Reliable Forex Broker?

The Sensex had closed up 486.81 points at 49,269.32 yesterday. The Nifty index also closed at 14,484.75, up 137.50. On Monday, foreign investors (FII) paid 6.45 thousand crore. Had shopped.

The main reason for the market boom

The rise in key stocks supported the market growth According to NSDL, till January 12, FII bought a total of 13,771 crore rupees shares. Fall in global markets

Investors around the world are nervous about the investment due to the increase in Corona cases. Asian markets fell slightly due to heavy selling in the US markets. South Korea’s Kospi index is trading down 0.65%. However, Hangseng, Nikkei, and the Shanghai Composite Index are trading with a slight lead. In the US yesterday, investors made profits by selling shares at a higher price. The Nasdaq index was down 1.25%. Apart from this, the S&P 500 and Dow Jones also closed down.