Stock Market Record: Budget Bull Run Continues As Sensex Ends Above 50,000 For First Time; Nifty Tops 14,750-Mark

Even the broader markets outperformed their benchmark peers after remaining on backfoot for three days. S&P BSE MidCap and SmallCap indices settled 1.4 per cent and 1.5 per cent higher, respectively.

(File Photo/ Getty)

New Delhi: Domestic benchmark indices on Wednesday continued to extend its Budget bull run for the third consecutive day with BSE Sensex rallying 458 points to end above the psychological level of 50,000 for the first time ever on the backdrop on broad-based gains amid positive cues from global markets. After touching a record intra-day high of 50,526.39, the 30-share index ended at 50,255.75, up 458.03 points or 0.92 per cent.

Likewise, the broader NSE Nifty jumped 142.10 points or 0.97 per cent to its fresh closing record of 14,789.95. Nifty also touched an all-time high of 14,868.85 during the afternoon session. As per reports, IndusInd Bank was top performer in Sensex pack followed by PowerGrid, Dr Reddy's, Sun Pharma, NTPC and Axis Bank.

On the flip side, Maruti Suzuki, UltraTech Cement, ITC, Kotak Bank and Asian Paints were among top laggards of Sensex. 

"Domestic equities continued to remain in the grip of bulls and broader indices made fresh record highs today," said Binod Modi, Head Strategy at Reliance Securities told news agency PTI. "Optimism, created after the announcement of bold measures in the Union Budget continued to attract investors. Favourable global cues also supported the market rally. Notably, market cap of Indian market is just fraction away from surpassing Rs 200 trillion levels," he added.

Growing optimism among investors after bold and pro-growth Budget helped market to rebound sharply in the last three days, he said, adding that the underlying strength of the domestic market remains intact.

Even the broader markets outperformed their benchmark peers after remaining on backfoot for three days. S&P BSE MidCap and SmallCap indices settled 1.4 per cent and 1.5 per cent higher, respectively.

Meanwhile, the Indian rupee ended on a flat note and settled 1 paisa higher at 72.95 (provisional) against the US dollar on Wednesday amid a firm trend in the domestic equity markets. It finally ended at 72.95 against the American currency, registering a rise of just 1 paisa over its previous close.