For the First Time, Sensex Opens Above 50,000; Nifty Hits 14,700

Indian Sensex, Nifty opens at record high as the investors are filled with optimism. For the first time ever, Sensex hit the 50,000 mark following rise in global peers. The Sensex opened at 50,096.57, up 304.45 points or 0.6 percent. The Nifty was at 14,712.90, which is 0.47 percent or 68.20 points up.

Gaurav Dua, the head capital market strategy and investments, Sharekha by BNP Paribas said that the country is at the cusp of a new economy cycle and business uptrend. The pillars of the long term equity rally are in place that is low interest rates, bank balance sheets on a mend, significant policy reforms along with the recent focus on attracting foreign investments and developing the Indian manufacturing sector.

The global market soared high after Joe Biden took charge of the US as the 46th President of the US, and hence early morning today at 9.30 am, Sensex stood at 50,049.95.

Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, RIL, Tech Mahindra and Titan Company were among the top scorers at Sensex. However, TCS, HDFC and HDFC bank were the index laggards.

On Wednesday, Home First Finance Company raised a little over Rs.346 crore from anchor investors, ahead of its IPO. A total of 66.81 lakh shares have been allotted to 25 anchor investors at Rs.518 per share, which is the upper end of the price band.