Budget-driven stock market, Sensex crosses 50,000 for first time

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New Delhi, 3 February 2021 Wednesday

The Bombay Stock Exchange index Sensex closed 458.03 points, or 0.92 per cent, higher at 50255.75 today, while the National Stock Exchange's Nifty rose 142.10 points (0.97 per cent). With closed at the level of 14789.95.

Economists and market experts believe that the budget presented on Monday is an adventurous and growth-driven budget, and the market has also welcomed the proposal to raise money by privatizing two state-owned banks and selling government property such as land.

Shares of IndusInd Bank, Powergrid, Coal India, Davis Lab, and Dr. Reddy closed at the red mark, while shares of Shree Cement, Ultratech Cement, UPL, Grasim and Maruti closed at the red mark.

In terms of sectoral index, all sectors except FMCG and realty closed at red today, including banks, private banks, PSU banks, pharma, metals, financial services, auto, IT and media.

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