Great Start to the New Financial Year, Sensex closes beyond 50,000 Points!

Mumbai, 1/4: The new financial year has started on a great note. After yesterday’s heavy fall, today the stock market recorded an increase on Thursday. The BSE Sensex has closed up 520 points at 50,029.83. Similarly, the Nifty has closed 176 points up at 14,867.35.

25 Out of the 30 stocks included in the index gained points, with IndusInd Bank having the highest gain of 4.4%. The Sensex also touched 50,092 points on the trading day. The index had fallen 600 points to close at 49,509 yesterday, while the Sensex opened 359 points at 49,868.53 and the Nifty opened 107 points at 14,798.40 in the morning.

According to S Ranganathan, head of research at broking company LKP Securities, the market saw strong buying later in the afternoon. Investors made purchases in the metal sector in the early trade, data from the record GST collection that came in the afternoon also led to purchases in the banking, tyre sector. The collection saw growth of 27% annually. Apart from this, the market sentiment has also improved rapidly in the vaccination program in the country.