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BSE Sensex has set a new record. The Sensex has crossed the 59,000 mark, making a record. On the other hand, Nifty was also seen close to 17,600 points on Thursday.
This is the first time that the BSE Sensex has reached 59,036. It had not achieved this position before. At the same time, the Nifty 50 index has also reached a new high of 17,594, due to the rise in big stocks like Tata Steel and Etcl Tech, the major stock index Sensex saw a jump on Thursday and crossed the record figure of 59 thousand.
Boosted by banking stocks as Finance Minister Nirmala Sitharaman may announce a government guarantee of up to Rs 31,000 crore for a bad bank. National Asset Reconstruction Company Limited (NARCL) – which has been set up to address the menace of bad loans plaguing public sector banks.
India becomes 6th largest stock market
India has now become the world’s sixth largest stock exchange, surpassing France for the first time in market capitalization, with the Sensex rising 23 per cent this year, setting the benchmark.
Top gainers in the Sensex were IndusInd Bank, ITC, Tata Steel, State Bank of India (SBI), Power Grid Corporation of India, Kotak Mahindra Bank, Dr Reddy’s Lab and RIL.
Top index losers were Tech Mahindra, TCS, Bharti Airtel, HDFC Bank and Titan. Except Nifty IT, all other indices were trading in the green. Bank Nifty rose over 37,000 points, down nearly a fifth of a percentage point.
Private banks rose 0.45%, with lender IndusInd Bank rising 1.6% as the biggest gainer on the Nifty 50 index.
Vodafone Idea grew by over 9%, while Bharti Airtel grew by 0.4%. The government also authorized a $3.5 billion stimulus program for the auto industry, which boosted auto stocks by 0.5%. Auto parts maker Bosch Ltd gained 1.5%, boosting the sector.
Nitin Purswani, CEO & Co-Founder, Medius AI told ABP News, “The BSE reaching 59k is a sign of hope, and the rally can be attributed to several reasons, including the decline and relaxation in Covid cases, the lockdown and The economy is liberalizing the vaccine effort, and there is ample evidence of growth and the limited impact of the lockdown.
Among other Asian markets, Tokyo, Shanghai, Seoul and Hong Kong were in the red during afternoon trade. Foreign institutional investors (FIIs) bought shares worth Rs 232.84 crore on a gross basis on Wednesday, according to provisional data from the stock market. Meanwhile, international oil benchmark Brent crude was up 0.48 percent at $ 75.82 per barrel.
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