Indian Indices End At Record High; Sensex Ends Above 50,000-Mark For The First Time

Indian share markets extended their rally seen this week and ended at record-high levels today with pharma and banking stocks leading the gains.

The BSE Sensex ended above the 50,000-mark for the first time today.

At the closing bell, the BSE Sensex stood higher by 458 points (up 0.9%).

The NSE Nifty closed higher by 142 points (up 0.9%).

IndusInd Bank and Power Grid were among the top gainers today.

The SGX Nifty was trading at 14,813, up by 86 points, at the time of writing.

The BSE Mid Cap index ended up by 1.4%, and the BSE Small Cap index ended higher by 1.5%.

On the sectoral front, gains were largely seen in the pharma sector, banking sector, and power sector.

Asian stock markets ended higher today.

As of the most recent closing prices, the Hang Seng ended up by 0.2% and the Shanghai Composite ended down 0.5%. The Nikkei ended higher by 1%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 37 points (up 0.1%).

The rupee is trading at 72.96 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 47,749 per 10 grams.

In global markets, silver attempted a rebound today after an over 8% plunge in the previous session prompted some buying.

Spot silver rose 1.4% to US$ 26.98 an ounce. Prices hit US$ 30.03 on Monday, its highest since February 2013.

Silver rocketed to their highest since 2013 on Monday after small investors responded to calls on Reddit and other social media to pile into the market and push prices up.

The amount of silver traded in the London market surged to 1.006 billion ounces on Monday, three times the level typical in recent months, the London Bullion Market Association said on Tuesday.

Also, speaking of the current stock market scenario, note that the BSE Sensex crossed the historical milestone of 50,000 last month on 21 January.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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