Sensex opens at record 50,000 level for the first time in history

Sensex opens at record 50,000 level for the first time in history

Indian share market opened at a record high on Thursday, with the BSE Sensex index scaling the 50,000 level for the first time.

It opened at 50,096.57 and touched a fresh all-time high of 50,126.73 points. At 09:17 am, the Sensex was up 223.17 points or 0.45% at 50,015.29, and the Nifty was up 63 points or 0.43% at 14,707.70. About 1034 shares have advanced, 267 shares declined, and 68 shares are unchanged.

Among the major gainers in the Sensex pack were Bajaj Finance, Bajaj Finserve, HCL Tech, Bajaj Auto, Titan, RIL, Tech Mahindra, Kotak Bank, IndusInd Bank, Asian Paint, Axis Bank and DrReddy, rising upto 2.61 percent. On the other hand, major losers were TCS, HDFC, HDFC Bank and Nestle, falling upto 0.43 percent.

The Nifty50 on the National Stock Exchange (NSE) also touched a new record high of 14,736.65 points. It was trading at 14,717.15, higher by 72.45 points or 0.49 per cent from its previous close.

Healthy buying was witnessed in auto and telecom stocks. A positive trend in the global markets also supported the indices on Thursday.

Further, the rise in the shares of index-heavyweight Reliance Industries also lifted the Sensex. RIL shares were trading at Rs 2,077.50, higher by Rs 22.65 or 1.10 per cent from its previous close.

Speaking on the current market scenario SEBI registered technical equity analyst Simi Bhaumik said, "Overall the market is bullish and any dip in the market from now should be seen as a buying opportunity. Banking and financials and IT sectors need to be watched out for as these sectors are expected to further pick up momentum and fuel the stock market rally."