Sensex at record high, reaches above 48,000 points

The stock market today hit a new record high. On January 4, the Sensex witnessed its first rise above 48,000 points.

The Nifty, which closed above 14,000 points for the first time on New Year’s Day, crossed 14,100. It set a new record of 14,147. Similarly, the Nifty closed 114 points higher at 14,132.

The Nifty opened above 14,100 in the morning. Gains were seen in some stocks at higher levels. But the bulls survived the upheaval and regained dominance. Continued investments by foreign firms is behind the boom.
Metal and IT stocks played a major role in the rise. The Nifty Metal Index is up 5 per cent.
Shares of Federal Bank rose 4 per cent. Federal Bank’s total deposits grew 12 per cent in the third quarter of the current fiscal year. – The total deposits of Federal Bank customers is Rs. 1,56,973 crore. Federal Bank’s CASA (Current Account Saving Account ) rose 23 per cent.