Sensex hit 50k for the first time but failed to hold the position

For the first time Sensex hit the 50,000 milestone on Thursday but failed to hold on to the gains and closed 559 points lower from the day’s highs on profit booking. The index closed 167 points lower at 49,625.

While Nifty closed at 14,590.35, down 54 points.

BSE Sensex tumbled 560 points from the record high to end at 49,625. Index heavyweights that dragged the markets were HDFC Bank, Housing Development Finance Corporation, Bharti Airtel, Tata Consultancy Services and ITC,.

While Bajaj Finance, Bajaj-Auto, Reliance Industries Ltd (RIL), Bajaj Finserv, Asian Paints, Hindustan Unilever Ltd (HUL) and ICICI Bank, ended the day in the green.