Sensex hits 50,000-mark for the first time, ends lower on profit booking

Index nearly doubles in 10 months

The BSE Sensex, a gauge of the performance of India’s leading 30 stocks, hit the 50,000 milestone for the first time on Thursday, a remarkable feat considering the country’s gross domestic product (GDP) is set to post its biggest-ever contraction this financial year due to the impact of the Covid-19 pandemic.

The index hit an intra-day high of 50,184, but gave up the gains to close at 49,625, down 167 points, or 0.34 per cent. Still, the index has surged 92 per cent from its March lows, aided by record foreign inflows.

Unprecedented monetary and fiscal relief packages globally have helped trigger