Sensex nears 50,000 mark

Mumbai, 23/3 (AO Bureau): In a  major development, the Indian stock market has closed with good momentum today. Sensex has managed to close above 50,000 with a strength of 280 points. Even yesterday, the Sensex closed with a very slight decline. Nifty has also managed to close above 14800 today. After the Supreme Court’s decision in the Loan Moratorium case, there has been a great rebound in the bank. Despite the weakness of the global market, the markets have closed strongly.

Out of the 30 stocks of the Sensex, 17 stocks have been rising and the remaining 13 stocks have been declining, 27 out of 50 stocks of the Nifty have closed with a green mark and the remaining 23 have seen a decline. In today’s boom of the market, fierce shopping has been seen in public sector banks. HDFC Bank, Reliance Industries, ICICI Bank, Axis Bank, UltraTech Cement, and SBI contributed the most to the market boom.

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