Sensex rallies 458 points to end above 50,000 mark for 1st time ever; Nifty tops 14,750

New Delhi: The Union Budget 2021 euphoria continued for the third day on Wednesday, with the BSE Sensex closing above the 50,000 mark for the first time ever, led by broad-based gains amid positive cues from global markets.

The 30-share index ended 458.03 points or 0.92 percent higher at at 50,255.75. It touched record intra-day high of 50,526.39. Similarly, the broader NSE Nifty surged 142.10 points or 0.97 per cent to its fresh closing record of 14,789.95. It touched an all-time high of 14,868.85 during the day.

Top gainers in the Sensex pack were IndusInd Bank, PowerGrid, Dr Reddy's, Sun Pharma, NTPC, Axis Bank, Titan, Tech Mahindra, Mahindra and Mahindra, HDFC, Bharti Airtel and Bajaj Finance, rising upto 7.64 percent. On the other hand, UltraTech Cement, Maruti, ITC, Kotak Bank, Asian Paints, Nestle and TCS were among the losers, falling upto 0.90 percent.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai was in the red. Stock exchanges in Europe were also trading on a positive note in early deals. Meanwhile, the global oil benchmark Brent crude was trading 0.36 per cent higher at USD 58.01 per barrel.

The Rupee ended on a flat note and settled 1 paisa higher at 72.95 (provisional) against the US dollar.

Finance Minister Nirmala Sitharaman presented the much awaited Union Budget 2021 with a major focus more on driving the economic recovery through higher spending on healthcare and infrastructure. 

As India is emerging from the COVID-19 crisis, the ninth budget under the Modi government (including an interim one), the Finance Minister's prime target is to boos spending on job creation and rural development, generous allocations for development schemes and easing rules to attract foreign investments.