India's major indices of stock exchanges corrected after registering new all-time high

After creating a history in the morning session on Thursday, January 21, 2021, the stock market corrected sharply as investors booked profits. Bombay Stock Exchange Sensex today crossed 50,000 mark when it opened this morning. However, it failed to retain it till the end of the day. National stock exchange's Nifty 50 also crossed an important psychological level of 14,750 in the morning session.

Sensex fell 167.36 points or 0.34 per cent and closed at 49,624.76. Nifty 50 also slipped 54.35 points or 0.37 per cent to settle at 14,590.35. Nifty Bank also fell 356.80 points or 1.1 per cent to close at 32,186.90.

BSE's Sensex opened above 50,000 and recorded a new high of 50,184 during trading. On March 24, 2020, Sensex had touched a yearly low of 25,638. It took less than a year to double but required more than 20 years to register 10 times growth. Sensex took almost 2 years to gain 10,000 points after it touched 40,000 mark on May 23, 2019.

Nifty also registered an all-time high of 14,753 after crossing 14,700 level in opening trade. It also almost doubled from its yearly low of 7,511. Bank Nifty also registered an all-time high of 32,842 today. Country's stock exchanges continued their rally till the second half but later moved to red.

All the sectoral indices on the NSE ended in the red. Trading was volatile due to expiry of weekly index options on the NSE. Some analysts say that News of fire at Serum Institute of India's Pune plant caused fears among investors and the market moved to red.

In the broader market, the BSE Mid-cap index fell 0.88 per cent and the Small-cap index lost 0.68 per cent.

Sellers outnumbered the buyers. On the BSE, 1,108 shares rose and 1,912 shares fell and 168 shares remain unchanged. On the Nifty 50 index, 17 shares advanced and 33 shares declined. The top five gainers on Nifty 50 were Tata Motors (up 6.38 per cent), Bajaj Finance (up 2.66 per cent), Reliance (up 2.55 per cent), Bajaj Auto (up 2.29 per cent) and UPL (up 1.85 per cent). The top five losers in Nifty were ONGC (down 3.34 per cent), Tata Steel (down 2.95 per cent), Coal India (down 2.61 per cent), GAIL (down 2.36 per cent) and NTPC (down 2.03 per cent).

COVID-19 update

Total COVID-19 confirmed cases worldwide stood at 9,68,68,849 with 20,74,886 deaths. India reported 1,92,308 active cases of COVID-19 infection and 1,52,869 deaths, while 1,02,65,706 patients have been discharged.