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Market wealth zooms past Rs 199 lakh crore as Sensex scales 50,000 mark

Market cap on BSE rose by Rs 1.32 lakh crore against previous session's closing of Rs 197.70 lakh crore

Aseem Thapliyal | January 21, 2021 | Updated 11:47 IST
Market wealth zooms past Rs 199 lakh crore as Sensex scales 50,000 mark
Sensex rallied over 300 points in early trade to touch an all-time high of 50,126. Nifty too scaled the key level of 14,700 for first time ever and rose to an all time high of 14,738.

Investor wealth touched an all-time high of Rs 199.02 lakh crore after Sensex breached the historic 50,000 mark today. Market cap on BSE rose by Rs 1.32 lakh crore against previous session's closing of Rs 197.70 lakh crore. The 30-stock index rallied over 300 points in early trade to touch an all-time high of 50,138. Nifty too scaled the key level of 14,700 for first time ever and rose to an all time high of 14,738.

In the previous session, Sensex had risen 393.83 points to close at its fresh record of 49,792 and Nifty jumped 123.55 points to settle at a lifetime high of 14,644.70.

Top gainers on Sensex were Reliance Industries, Bajaj Finance and ICICI Bank.

RIL share rose 2.7% to Rs 2,111 against previous close of 2,054 on BSE.

The RIL stock gained in early trade after stock exchanges on Wednesday gave their nod for Future Group's $3.4 billion deal to sell its retail assets, taking it a step closer towards closing a deal that has soured ties with its business partner Amazon.com Inc.

Sensex hits 50,000 mark: 10,000 points in 415 sessions, index's latest rally is the strongest ever

On the other hand, TCS and HDFC twins were the laggards. Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday, as per NSE data.

Market breadth was positive with 1,539 stocks rising against 1,029 falling on BSE. 138 stocks were unchanged.

Number of shares rising to their 52-week highs stood at 205 against 23 touching their 52-week lows in early trade. Tracking the positive sentiment in the market, 239 stocks hit their upper circuits and 156 fell to their lower circuits, respectively.

Global markets

Asian shares followed US markets on Thursday that hit all-time highs on hopes of additional stimulus from the new government to put the world's largest economy back on growth path.

Japan's benchmark Nikkei 225 rose 0.7% in morning trading to 28,733.11. Australia's S&P/ASX 200 gained 0.6% to 6,811.20, while South Korea's Kospi edged up 0.4% to 3,127.81. Hong Kong's Hang Seng was little changed, inching up less than 0.1% to 29,974.00, while the Shanghai Composite added 0.4% to 3,597.04.

On Wall Street, the S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched record highs, powered by gains in technology, communications, health care and most other sectors.

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