The Business Bytes
TBB BUREAU
MUMBAI, FEBRUARY 3, 2021
Riding on the post-Budget euphoria and positive global cues the BSE Sensex closed above the historic 50,000-mark for the first time ever today.
After touching a record intra-day high of 50,526.39, the 30-share BSE benchmark ended at 50,255.75, up 458.03 points. Similarly, the broader NSE Nifty surged 142.10 points to its fresh closing record of 14,789.95. It touched an all-time high of 14,868.85 during the day.
Banking, finance and pharma stocks gained, while cement and FMCG stocks went down following profit-booking.
Announcement of bold measures in the Union Budget continued to attract investors. Besides, favourable global cues also supported the market rally.
Sector-wise, BSE utilities, healthcare, power, metal, telecom and finance indices rose as much as 2.47 per cent, while realty and FMCG finished with losses.
Broader BSE midcap and smallcap indices rallied up to 1.47 per cent.
Global markets marched higher following renewed hopes for the passage of the USD 1.9 trillion COVID-19 relief bill in the US.
