Sensex Crosses Historic High Of 50,000 Mark
Mumbai: In a historic day for India’s stock market, the BSE Sensex crossed the 50,000 mark for the first time ever on Thursday morning.
The Sensex rose as much as 335 points to hit an all-time high of 50,126.73 and Nifty 50 index also moved past the 14,700-mark for the first time.
It took a little over three months for the BSE Sensex to climb from 40,000 to 50,000 points, and took just nine sessions to gain 1,000 points from 49,000 points, Financial Express reported.
This is Sensex’s fastest 10,000 summit. Previously, it had made the journey from 10,000 to 20,000 in the 2007 stock market rally in just 633 days. The index had breached the 40,000-mark 610 days ago.
With the world’s largest coronavirus inoculation drive underway in India, experts believe the vaccination hope will drive the stock markets higher, NDTV reported.
While heavyweights in India — Reliance and HCL — are doing well, globally tech giants led the United States markets to close at a record high.