Business

Sudden Surge : Shot In The Arm For The Economy, BSE Sensex Breaches 50k-Mark

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In a dramatic surge  that surprised many, the BSE Sensex scaled the 50,000-mark for the first time on Thursday on growth optimism and global cues, but succumbed to profit-booking in fag-end trade to finish in the red.

Weighed by selling in banking, finance and IT counters, the 30-share BSE index ended 167.36 points or 0.34 per cent lower at 49,624.76.

Similarly, the broader NSE Nifty slipped 54.35 points or 0.37 per cent to close at 14,590.35.

ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC.

On the other hand, Bajaj Finance, Bajaj Auto, Reliance Industries (RIL), Bajaj Finserv and Asian Paints were among the gainers, climbing up to 2.72 per cent.

Market heavyweight RIL spurted 2.09 per cent after stock exchanges cleared Future Retail’s Rs 24,713 crore deal to sell its retail assets to the billionaire Mukesh Ambani-led conglomerate, with certain riders.

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