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Sensex hit the 50,000 mark for the first time ever

Sensex hit the 50,000 mark for the first time ever

The Sensex achieved the 50,000-point mark for the first time, as news of a fire at Covid’s vaccine facility erased all benefits of the benchmark indices on Thursday.

The 30-share pack Sensex fell 167.36 points or 0.34 percent to close at 49,624.76. Prior to this, the 30-digit index was in the nearly 800-point range. Its broad-based NSE Nifty lost 54.35 points, or 0.37 per cent, to close at 14,590.35.

“What a day for the 50th hit of the Sensex… 21st day of the 21st century, 21st century!” However, we believe it is a mental milestone, but an important one. Since booking is better than seeing profit, we recommend taking some profit around the Nifty 14,800 / 15,000 level and maintaining the portfolio, ”said Rahul Sharma, Head-Technical & Derivatives Research, JM Financial Services.

Market at a Glance:

Reliance Industries leads 3% in earnings on Friday
Bajaj Finance 3% after Q3 show, Bajaj Finserv 1%
India VIX rises 3% due to nervousness indicating all sectors end in red,

Nifty PSU bank top sectoral loss 281 stocks hit 52-week high: L&T, MRF, Siemens, Voltas, Taumo, Havells and Bosch and Bajaj Auto Among blue-chip names, Tata Motors was the biggest gainer, at 6.38 percent. Bajaj Finance, Reliance Industries, Bajaj Auto, UPL, Eicher Motors, Asian Paints, and Bajaj Finserv were the other beneficiaries.

ONGC topped the Nifty pack with a decline of 3.34 percent. Tata Steel, Coal India, GAIL, NTPC, SBI, IndusInd Bank, Bharti Airtel, Cipla, Adani Ports, and Sun Pharma were the others that ended in the red.

Broader market indices closed with underperforming cuts from their headline peers. The Nifty Smallcap declined 0.64 percent and the Nifty Midcap fell 1.22 percent. The Nifty 500, the largest index on the NSE, dropped 0.52 percent.
Crompton Greaves Consumer, Whirlpool of India, Voltas, SML Isuzu, CEAT, and JK Tire were the top gainers from the mid- and small-cap indexes, which rose in the range of 5–12 per cent.

Cholamandalam Finance, Indraprastha Gas, BHEL, Indian Bank, Everest Industries and Tata Alexi were the major losers from the broader market place, falling in the range of 4-8 percent.
All sectoral indices ended with gains on the NSE. Nifty PSU Bank came down the most by 3.27 percent. Nifty Metal, Nifty Media and Nifty Realty each fell more than 2 percent. Nifty Bank and Nifty Pharma were the other major gainers.

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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