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Thursday, December 9, 2021

The stock market made a record, for the first time, Sensex crossed 55,000 mark, Nifty also made a new record

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Mumbai: Sensex jumped 593 points to close above the 55,000-mark for the first time on Friday, led by gains in Tata Consultancy Services (TCS), Reliance Industries, HDFC Bank and HDFC. The BSE 30-share Sensex jumped 593.31 points, or 1.08 per cent, to reach 55,437.29. This is its highest closing level. The Sensex touched its all-time high of 55,487.79 points during the day’s trading.

Similarly, the Nifty of the National Stock Exchange crossed the level of 16,500 for the first time. The Nifty closed at its all-time high of 16,529.10, up 164.70 points or 1.01 per cent. It also touched its all-time high of 16,543.60 during the day’s trading.

Among the Sensex companies, TCS’s stock climbed the most by more than three percent. Shares of Larsen & Toubro, Bharti Airtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries were also gainers. On the other hand, PowerGrid, IndusInd Bank, Dr Reddy’s, Bajaj Finance and NTPC declined.

Vinod Modi, Head of Strategy, Reliance Securities, said, “Continuous recovery in IT stocks and gains in financial and consumer sector companies helped the market and hit new record highs. A weak trend in other Asian markets could not affect the sentiment here.”

In other Asian markets, China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi declined. European markets were in a positive trend in afternoon trade. Meanwhile, international benchmark Brent crude fell 0.10 per cent to $71.24 a barrel.(Agency)

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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