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Market Live: Sensex Crosses 46,000 Mark For First Time Ever As Markets Extend Rally – Unblendednews

Market Live: Sensex Crosses 46,000 Mark For First Time Ever As Markets Extend Rally


Market Live: Sensex Crosses 46,000 Mark For First Time Ever As Markets Extend Rally

Stock Market Updates: Gains in financial, consumer goods and IT shares supported the markets.

Domestic stock markets extended a rally to scale new peaks on Wednesday, with the S&P BSE Sensex index crossing the 46,000 mark for the first time ever, amid optimism on a fast recovery from the coronavirus-caused economic slowdown. The Sensex index jumped 397.17 points, or 0.87 per cent, to touch 46,005.68 at the strongest level recorded in afternoon deals, and the broader NSE Nifty 50 benchmark climbed to as high as 13,507.20, up 114.25 points, or 0.85 per cent, from its previous close — both all-time highs. Gains in financial, consumer goods, IT and energy shares pushed the markets higher.

  1. At 2:39 pm, the Sensex traded 544.46 points, or 1.19 per cent, higher at 46,152.97 while the Nifty was up 144.75 points, or 1.08 per cent, at 13,537.70. (Track Sensex, Nifty Here)

  2. UPL, Indian Oil, Kotak Mahindra Bank, ITC and ONGC, trading between 1.71 per cent and 3.62 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares. 

  3. On the other hand, Hindalco, HDFC, State Bank of India, Shree Cement and Britannia, down 0.59-1.49 per cent each, were the worst hit among the six laggards in the index.

  4. The health secretary said on Tuesday the country may approve some coronavirus vaccines over the next few weeks and an estimated 30 crore people would be inoculated in the first tranche. 

  5. Reliance Industries, TCS, Infosys and ITC were the biggest boosts for Sensex, together contributing more than 100 points to the gain in the index. (Also Read: Pfizer, ICICI Bank, JSW Steel, Tata Steel In Focus Today

  6. Reliance Industries shares rose as much as 1.08 per cent to Rs 2,015.25 apiece on the BSE, having opened stronger at Rs 2,013.00 from their previous close of Rs 1,993.75. Reliance Industries chairman Mukesh Ambani said on Tuesday that the conglomerate’s telecom arm, Reliance Jio Infocomm, will pioneer 5G in the country in the second half of 2021.

  7. Analysts say the current rally is backed by optimism around COVID-19 vaccines and world economic recovery, but some correction cannot be ruled out in the near term. 

  8. “The markets are continuing a liquidity-driven rally. The current euphoria in the markets is simply not stopping…  It is like a train running at a very fast speed, you can slow it down, but not stop it,” AK Prabhakar, head of research at IDBI Bank, told NDTV. 

  9. Foreign institutional investors (FIIs) continued to be bullish on Indian markets, making net purchases of Rs 2,909.6 crore on Tuesday, data from NSE shows. 

  10. Record highs in global markets also supported investor sentiment. Equities in Asia rose to a record high and US stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus. MSCI’s gauge of stocks across the world also hit a record high.



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