Indian markets continued to rise in early trade for the third day on Thursday with Sensex crossing 50,000 mark and Nifty above 14,700 level for the first time. Sustained buying spree was seen across all counters.
Both Sensex and Nifty were trading at a new life time high.The 30-share benchmark index, BSE Sensex opened with a gain of 304.45 points or 0.61% at 50,096.57, while the broad based NSE Nifty started with a rise of 86.25 points or 0.59%, at 14,730.95.
At 10.18 a.m., the Sensex was trading up 252.13 points or 0.51% at 50,044.25 with 19 components gaining. Meanwhile, the Nifty was trading higher by 82.60 points or 0.56% at 14,727.30 with 31 components gaining.
Tata Motors contributed rise of 68.79 points in the Sensex. It was followed by ICICI Bank (41.33 points), ITC (34.58 points), Oil & Natural Gas Corporation (24.56 points) and Bajaj Auto (13.13 points).
However, HDFC Bank contributed fall of 32.44 points in the Sensex. It was followed by Tata Consultancy Services (19.26 points), Housing Development Finance Corporation (18.46 points), Tata Steel (5.12 points) and Bharti Airtel (4.63 points).
Biggest gainers in the 30-share index were Bajaj Finserv (3.27%), Bajaj Finance (2.65%), Reliance Industries (2.37%), Axis Bank (2.16%), and Bajaj Auto (1.64%).
On the other hand, HDFC Bank (0.82%), Tata Steel (0.81%), Tata Consultancy Services (0.73%), Tech Mahindra (0.57%), and Housing Development Finance Corporation (0.47%) were the major losers in the Sensex.
Market breadth was positive with 1,384 advances against 892 declines.