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

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.

Also Read: New COVID Strain Scare: Sensex Dips Over 1,400 Points

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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