Sensex Breaches 50,000 Mark for the 1st Time Ever, But Ends Lower

The high was led by gains in RIL after SEBI approved its Rs 24,713-crore deal to buy Future Group’s retail assets.

1 min read
At opening bell, the S&P BSE Sensex and the NSE Nifty 50 traded little changed at 39,317 and 11,683 respectively.

The Sensex on Thursday, 21 January, breached 50,000 mark in the pre-opening session, for the first time ever. Later in the session, however, the market ended lower 0.34% at 49,624.

According to MoneyControl, at 09:17 am, the Sensex was up 223.17 points or 0.45 percent at 50,015.29, and the Nifty was up 63 points or 0.43 percent at 14,707.70.

However, the market could not hold on to this and closed down on profit-taking. The Sensex lowered 0.34% at 49,624.76 following its record high of 50,184 earlier in the session, LiveMint reported.

The high was led by gains in Reliance Industries after SEBI approved Reliance Industries' Rs 24,713-crore deal to buy Future Group's retail assets.

Tata Motors shares increased 5.7%, showing gains for the third consecutive day, The Reliance deal came as a setback to Amazon Inc, which is locked in a legal battle with the Future group over this deal.

According to Reuters, investor sentiment also received a boost with global equity benchmarks touching record highs on Wednesday on expectations of stimulus from the US owing to the new Biden administration.

BloombergQuint reported that the historic milestone was achieved on the back of the momentum of the last few months as well as hopes that COVID-19 vaccination and stimulus measures will help the economy rebound soon.

(With inputs from MoneyControl, BloombergQuint, Livemint and Reuters.)

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