Share Market Update: Sensex Ends Above 60,000 Pts For First Time In History, Nifty Tops Over 17,000

Market Updates: BSE Sensex rose 163.11 points to close above 60,000 points for the first time today. The NSE Nifty gained 30.25 points to close at a record 17,853.20 points.

(File Photo)

Share Market: The BSE Sensex on Friday rose 163.11 points to close above 60,000 points for the first time in history, while NSE Nifty gained 30.25 points to close at a record 17,853.20 points.

Sensex, at the main stock index, crossed 60,000 points as major stocks like Infosys, HDFC Bank and TCS rose.

Infosys gained the most by two per cent at the Sensex. In addition, L&T, HCL Tech, Asian Paints, TCS, Tech Mahindra and HDFC Bank were among top gainers

Based on the market boom, Swastika Investmart research chief Santosh Meena said that the Indian stock market continues to rise sharply, surpassing all concerns, where the Sensex crossed the 60,000 mark. "We are in the same bullish market as in the year 2003-2007, and it is likely to continue for the next 2-3 years," he said.

On the other hand, Geojit Financial Services Chief Market Strategist Anand James said the Sensex crossed the 60,000-point mark after fears over the Evergrande debt crisis subsided, though one should keep an eye on the possibility of a rate hike in the market.

IIFL Securities CEO (Retail) Sandeep Bhardwaj said hopes of concrete economic growth and continual progress over the next few years are encouraging the bulls.

It took the Sensex a little over 31 years to reach the historic 60,000 mark by 1,000 points.

The index was at 1,000 points on July 25, 1990 and touched a level of 30,000 points on March 4, 2015. It took the Sensex 25 years to touch the 30,000-point mark. In the six years that followed, the Sensex rose from 30,000 to 60,000.