Sensex closes above 50k for first time, Nifty at 14,789

While speaking to ETV Bharat on the latest Sensex milestone, Satish Kantheti, Joint Managing Director at Zen Money said that the market continues to scale new peaks on the back of a reform oriented Budget.

Mumbai: The BSE Sensex continues to scale new peaks on the back of a reform-oriented Budget.

The BSE Sensex soared for a third day on Wednesday and closed above the crucial 50,000 level for the first time.

At the end of the session, while the Sensex gained 458 points to close at 50,255, the much broader index NSE Nifty gained 142 points and closed at 14,789.

In fact, it was the highest level for the Nifty too.

Notably, Sensex gained over 2,315 points on the Budget presentation day (Monday) and a day after it rallied over 1,190 points.

Speaking to ETV Bharat on the latest Sensex milestone, Satish Kantheti, Joint Managing Director at Zen Money, said: “There was a correction in the market in the week before the Budget presentation. However, when the government made its intention clear in the Budget with a strong focus on investment and growth, the market has started reacting positively.”

“Besides the domestic factors, positive rally in the major global markets also boosted the sentiment of investors in India,” he added.