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Sensex closing in on 50K-mark, ends on a new high

AGENCIES 

Mumbai, Jan 20: The Indian eq-uity indices continued their up-ward journey for second consec-utive day Wednesday with key indices closing at record highs.

The S&P BSE Sensex closed in on the 50,000-mark, hitting an intra-day high of 49,874 points, just 126 points short. 

Market analysts cited positive global cues, healthy quarterly results and slow-but-sustained FIE inflows as the factors for indices’ rise. Globally, shares were mostly higher ahead of Joe Biden’s in-auguration as US President on Wednesday.

 On the domestic front, sustained FII inflows and strong corporate earnings kept the sentiments high. Among sectors, auto, IT, PSU banks and media rose the most while FMCG ended marginally in the negative. Besides, rise in the shares of index-heavyweight Reliance Industries (RIL) also supported the Sensex.

 Its shares closed at 22,054.85, higher by !38.55, or 1.91 per cent, from its previous close. Consequently Sensex ended at its record closing level of 49,792.12, higher by 393.83 points, or 0.80 per cent, from its previous close of 49,398.29. The Nifty50 too settled of closing high of 14,644.70, higher by 123.55 points, or 0.85 per cent, from its previous close. 

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