EEB also gave its report of “no adverse observation”, after the approval of the Sebi agreement.
The S&P BSE Sensex passed the 50,000 mark for the first time on Thursday, led by gains at Reliance Industries after market regulator SEBI approved Reliance Industries’ 24,713 crore deal to buy Future Group’s retail assets, in a blow. to Amazon’s efforts to block the deal. The BSE also issued its “no adverse observation” report after approval of the deal by the market regulator, with some passengers. The Sensex rose as high as 335 points to hit an all-time high of 50,126.73 and the Nifty 50 Index also moved 14,700 for the first time.
At 9:18 a.m., the Sensex rose 222 points to 50,038 and the Nifty 50 index advanced 63 points to 14,708.
Meanwhile, other Asian markets also rose to new all-time highs on Thursday, following US markets as investors waited for further economic stimulus from newly inaugurated US President Joe Biden to offset the damage caused by the COVID-19 pandemic.
US President Joe Biden, who took office on Wednesday, last week introduced a proposed $ 1.9 trillion stimulus package to boost the economy and accelerate vaccine distribution.
At home, better-than-anticipated corporate earnings, hopes for bold economic reforms in the next budget, and sustained purchases by foreign institutional investors keep investors’ bullish sentiment in equity markets.
The buy was visible across all sectors, as all sector indicators except the Metals Equities Index were trading higher led by the 1% gain from the Nifty Auto Index. The Nifty Bank, IT, Media, Pharma and Private Bank indices also rose more than 0.5%.
Mid- and small-cap stocks were in line with their larger peers, as the Nifty Midcap 100 and Nifty Smallcap 100 indices rose 0.7 percent.
Bajaj Finance was the main winner of Nifty, the shares were up 3 percent to Rs 5,143 after the lender reported a 29 percent year-on-year (yoy) decrease in consolidated net income of Rs 1,145.98 crore for the three months to December losses and provisions.
Tata Motors, UPL, Bajaj Finserv, IndusInd Bank, Reliance Industries, HCL Technologies, Eicher Motors, Hero MotoCorp, Shree Cement, Dr Reddy’s Labs and Wipro were also up 1-3.5%.
On the other hand, Adani Ports, TCS, HDFC, Tata Steel, GAIL India, JSW Steel, Bharat Petroleum and HDFC Bank were among the notable losers.
The overall breadth of the market was positive, as 1,484 stocks advanced while 614 fell in the BSE.
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