Sensex returns above 51,000
New record again; Capital markets continue to rise after the budget, with foreign investors tending to buy
Mumbai: The Sensex and Nifty have hit record highs after the budget surge in the capital markets. Against the backdrop of the Reserve Bank’s credit policy, the Sensex on Friday crossed the 51,000 level for the first time. At the end of the day, the Sensex closed 117 points higher at 50,731 points. Earlier in the day, the Sensex had touched 51,073.27 points.
At the National Stock Exchange, the Nifty touched a low of 15,000 and closed at 14,924.25, up 28.60 points.
Today’s session saw a surge in buying in banks, financial institutions and FMCG. In which SBI’s shares rose 10 per cent. Apart from that, Kotak Mahindra Bank, Dr. Shares of Reddy’s, Ultratech Cement, ITC and HDFC Bank rose. Shares of Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech declined.
The real estate sector and the automotive industry also saw declines today. Indiabulls Real Estate, Nesco, Shobha, Phoenix, DLF fell. The Nifty had crossed the 15,000 level on the back of a rally before the announcement of the credit policy, after which it declined marginally and closed higher. Anand James, an analyst at Geojit Financial Services, said the rally was expected to slow down after the RBI’s announcement.
Meanwhile, major stock markets in Asia were in a negative mood today. US capital markets rose on Thursday. For the fourth day in a row, Wall Street was on the rise. The Sensex had gained 358 points on Thursday. The Nifty had gained 105 points to settle at 14895 points.
Tags: After the budget, Nifty record, Reserve Bank, Sensex