Indian stock market benchmark BSE Sensex on Thursday surged beyond the 50,000-mark in morning trade for the first time since March, with the Nifty 50 also going beyond the 14,700-mark. The Sensex has nearly doubled in value in nearly 10 months.
The record highs, witnessed across global markets, were attributed to the formal inauguration of United States President Joe Biden on Wednesday. In his inaugural address, the 46th president assured Americans that he would provide a positive example to the world under his leadership. Kamala Harris was also sworn in on Wednesday as the first woman Asian African American Vice President of the US.
At 10.51 am, the Sensex reached 50,082.59, or 290.47 points (0.58%) higher than the previous day’s closing, while Nifty 50 stood at 14,730.50, or 85.8 points (0.59%) higher.
In the early trade, all the sectoral indices traded in the green, led by gains in banking, financial services, and automobile shares.
The gains on the Sensex were led by…