Half century of stock market, Sensex crosses 50 thousand for the first time

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Half century of stock market, Sensex crosses 50 thousand for the first time

In the first 3 weeks of the year, the market has jumped about 5%.

The BSE Sensex crossed the 50,000 level for the first time on 21 January. The opening benchmark index reached this record high with a bounce in the morning. The Nifty 50 has also reached a high of 14,650. At 9:30 am, both indices are strong around 0.6%.

The Sensex closed at 49,792.12 on January 20, while the Nifty closed at 14,644.70 on the previous day.

Stock market moves in past weeks

Sensex:

09 Dec- 46,000
18 Dec- 47,000
04 Jan- 48,000
11 Jan- 49,000
21 Jan- 50,000

Nifty:

09 December – 13,500
31 December – 14,000
12 January – 14,500
21 January – 14,650

Increase on these shares

Bajaj Finance, Bajaj Finserv, Reliance shares have gained more than 2%. Other stocks that recorded an increase include Reliance, Tech Mahindra, IndusInd Bank, Bajaj Auto. Among the stocks in most stocks, 4 stocks out of 30 including TCS, HDFC in Sensex pack are also in red mark.

The Nifty Midcap index is trading up around 0.86% while the Smallcap 100 is up 0.83%.

What is the reason for the huge brightness in the market?

The market remains out of place due to large investment by foreign institutional investors. In the first 20 days of the year, more than 14,000 crores have been put into the market by such investors on a net basis. Recently, the market has gained from the results of the third quarter i.e. December quarter. With Biden now in command, a bigger Stimulus package is also expected. Investors also have confidence in the market with the expectation of a boom in the economy due to the effective vaccine.

Positive signals from foreign markets in the morning also helped the market to reach this record level.

What to expect next?

The stock market is trading at a rapid pace as expected by the experts and rating agencies. In the first 3 weeks of the year, the market has jumped about 5%. The market is expected to touch new heights again with large FII investment and strong sentiments. Budget, covid control and real recovery in the economy will be important factors in the long term.

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