US President Joe Biden Impact: Sensex Crosses 50K, Creates History, Nifty Tops At 14,700

MUMBAI:  Equity benchmark Sensex rallied over 300 points to hit the 50,000-mark for the first time ever in  history early trade on Thursday right after Joe Biden was sworn in as the 46th president of the United States.

The index touched a lifetime high of 50,126.73 in the opening deals.

Sensex opens at 50096 with a gain of 304 points. #Sensex50k #Sensex #BSE pic.twitter.com/RQmoh2hTY5

— BSE India (@BSEIndia) January 21, 2021

Similarly, the NSE Nifty went up 85.40 points to trade at 14,730.10. It too scaled its highest level of 14,738.30 in early trade.

As per trade analysts, domestic equities were looking good now given several positive cues like the recovery in key economic data, ongoing vaccination drive, and opening-up of economy, favourable monetary policies of global central bankers, weak dollar and large fiscal stimulus in the US.

Checkout the journey of #Sensex as it crosses 50k for the first time #Sensex50k #BSE pic.twitter.com/ZULK533iL8

— BSE India (@BSEIndia) January 21, 2021

US equities also touched record highs on Wednesday after Joe Biden was sworn in as the President of the United States and he promised to take all necessary measures to put the US economy on track.