The S&P BSE Sensex rose above the 50,000 mark on Thursday, following a surge in Reliance Industries by market regulator Sebi in an attempt to block Reliance Industries’ Rs 24,713-crore deal to buy Future Group’s retail assets. . The BSE gave its “no adverse observations” report with some regulators to approve the deal from the market regulator. The Sensex gained 335 points to an all-time high of 50,126.73 and the Nifty 50 index also reached 14,700 for the first time.
By 9:18 am, the Sensex rose 222 points to 50,038 and the Nifty 50 index rose 63 points to 14,708.
Meanwhile, other Asian markets also reached new record levels on Thursday, tracking US markets as investors hoped for more economic stimulus from newly inaugurated US President Joe Biden, who COVID – 19 were devastated by the epidemic.
US President Joe Biden took the oath of office on Wednesday, last week proposing a $ 1.9 trillion stimulus package to boost the economy and accelerate the delivery of vaccines.
Back home, the expectation of better corporate earnings, bold economic reforms in the upcoming budget, and continued buying by foreign institutional investors have boosted investor sentiment in equity markets.