Share Market Highlights: Sensex ends above 50,600 for first time, Nifty at 14,895; ITC, SBI, M&M top gainers

Sensex, Nifty Highlights on February 4: Market indices rose sharply for the fourth straight session post Union Budget 2021 and closed at new record highs on Thursday, in line with positive global equities. After a volatile session, Sensex ended 358 points higher at 50,614 and Nifty gained by 105 points to 14,895. Sensex and Nifty hit new lifetime highs of 50,678 and 14,913 during today's session. ITC, M&M, ONGC, Bajaj Finserv, NTPC were among the top gainers while ICICI Bank, IndusInd Bank, Infosys, HDFC traded as top losers. BSE's market capitalization rose to Rs 200.11 lakh crore against the previous close of Rs 198.43 lakh crore. Yesterday, Sensex ended 458 points higher at 50,225 and Nifty gained 142 points to 14,789. On Wednesday, Sensex and Nifty hit record highs of 50,526 and 14,868. Meanwhile, quarterly earnings announcements by State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, Arvind, Bajaj Electricals will also set the tone for the stock market today.

Here's a look at the updates of the market action on BSE and NSE today

3. 59 PM: Closing session today

Market indices rose sharply for the fourth straight session post Union Budget 2021 and closed at new record highs on Thursday, in line with positive global equities. After a volatile session, Sensex ended 358 points higher at 50,614 and Nifty gained by 105 points to 14,895.

3. 43PM: Nifty Tech View

Ashis Biswas, Head of Technical Research at CapitalVia Global Research said,"The market witnessed to extend the gain further to yesterday's rally in the last hour of the session. The market is likely to hold the momentum and likely to reach the level of 14950-15000. The level 14730-14750 to act as a support zone from the short-term perspective. The momentum indicators like RSI, MACD to stay positive. Buy on dips will be a good opportunity in the market.

3. 31 PM: Sensex likely to hit 61,000 by 2021-end: Morgan Stanley

The Budget rally coupled with better than expected earnings for India Inc could take the benchmark Sensex to 61,000 mark by the end of the calendar year, believes brokerage Morgan Stanley. Hailing the reformist measures announced in Budget 2021, the brokerage said they could raise the share of corporate profits in GDP.

"If these measures are executed well, this budget has the potency to lift the share of corporate profits in GDP, augmenting the strategic shift in government policy when corporate tax rates were cut in September 2019," the brokerage firm said.

Sensex likely to hit 61,000 by 2021-end: Morgan Stanley's super bullish bet on Indian market

3. 28 PM: Dabur Q3 outlook

JM Financial said in its note today,"  Dabur's Q3FY21 reported highest ever Consol. revenue/EBITDA/APAT growing at 16.0%/16.5%/17.8% YoY. The domestic business witnessed robust growth of 19.5% to Rs27.3bn driven by solid volume growth of 18.1%, while International grew 14.1% (CC). We note superlative efforts and strong execution capability developed by Dabur are leading to makeover in its stellar performance in past few quarters. Management cited 'progression is way to go than perfection' driving its power brand strategy and focus on rural coverage resulted in resilient performance. Further, volume growth was fuelled by 39% rise in ad-spend on power brands, yet Dabur aspire to spend 10-12% of sales in-line with the industry. We remain optimistic on growth prospects driven by Health-care segment and uphold FY21E/FY22E earnings and introduce FY23E estimates. We retain Buy rating with DCF-based revised TP of Rs609, implying 39.6x FY23E EPS."

3. 11PM: Market outlook

Reliance Research in its note said," NSE-NIFTY extended gain post a strong start for the month and settled at life-time-closing high. Overall market breadth remained in favour of the bulls and major sectors were positive. Due to further rise in the index, its major technical indicators remained in buy mode. The index has potential to explore uncharted territory and will test 15,000-15,250 levels. In case of decline, the index will find support at around 14,200-level initially and 13,950-level subsequently. 

As for the day, support is placed at around 14,501 and then at 14,354 levels, while resistance is observed at 14,763 and then at 14,879 levels. "

3.00 PM: YES Bank share rises after 3 days

YES Bank share price was trading a tad higher in Thursday's volatile session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE today.

Reversing from three sessions of consecutive fall, the stock of private lender opened higher at Rs 16.25 against its previous close of Rs 16.30. The stock gained 1.5% to the day's high at Rs 16.55 and also hit an intraday low of Rs 16.05.

YES Bank stock trades higher than 5 and 100-day moving averages but lower than 20, 50 and 200-day moving averages.

YES Bank share rises after 3 days

2. 55PM : HPCL Q3 profit rises to Rs 2,354.6 cr

State-controlled Hindustan Petroleum Corp Ltd (HPCL) on Thursday reported 215.13 per cent rise on a year-on-year basis in net profit at Rs 2,354.6 crore for the third quarter ended December 31, 2020. The company had recorded Rs 747.20 crore profit during the same period last year.

The company's revenue dropped 2 per cent year-on-year to Rs 68,659.2 crore as compared to Rs 70,042.2 crore reported a year before. Pre-tax profit stands at Rs 3,157.87 crore in Q3 against Rs 1,150.84 crore in the same period last year. The company's tax outgo for the quarter rose 99.4 per cent y-o-y to Rs 755.58 crore compared to Rs 379 crore during Q3FY20

HPCL Q3 profit rises to Rs 2,354.6 cr; revenue down 3%

2. 45 PM :SBI Q3 results

State Bank of India on Thursday reported a 6.9 per cent year-on-year (YoY) decline in its net profit for the October-December quarter at Rs 5,196 crore. Sequentially, the net profit rose rose 13.60 per cent from Rs 4,574 crore in preceding July-September quarter.

The bank's net interest income rose 3.75 YoY to Rs 28,820 crore. On a quarter-on-quarter (QoQ) basis, it rose 2.27 per cent from Rs 28,181 crore in September quarter.

SBI Q3 results: Net profit declines 6.9% to Rs 5,196 cr

2. 36 PM: Bharti Airtel share hits all-time high

Share of Bharti Airtel hit a fresh all-time high of Rs 623 in today's early session after the company recorded highest ever consolidated quarterly revenues from India business in December quarter, on the back of strong customer addition.

The telecom major on Wednesday reported a consolidated net profit of Rs 853.6 crore in the October-December quarter of the ongoing financial year as against a net loss of Rs 1,035.3 crore in the year-ago period. The company had posted a net loss of Rs 763.2 crore in the preceding July-September quarter.

Bharti Airtel share hits all-time high post Q3 earnings

2. 26 PM: Shree Cement Q3 outlook

JM Financial said in its note today," Shree Cement's (SRCM) 3QFY21 operating performance was ahead of CBL estimates on account of strong operating efficiencies that helped cost savings of 3% YoY. Revenues increased 16% YoY to Rs33.1bn as volume rose by 14.7% to 7.16mn tonnes and realization were higher by 2% YoY at Rs4,621/tn. The strong FY21-22 union budget impetus to the infrastructure segment and SRCM's enough capacity headroom to cater incremental demand cost effectively will help earnings momentum to continue in FY22. Hence we revise our FY22e earnings to EBITDA of Rs44.3bn and introduce FY23e earnings with EBITDA estimate of Rs51.6bn. We have assigned a multiple of 15.5x FY23e earnings and arrived at a fair value of Rs24,100 olling over to FY23 earnings. We upgrade the rating to ADD from Sell earlier."

2. 13PM: Lupin Q3FY21outlook

JM Financial said in its note today,"Lupin Q3FY21 numbers ahead of our estimates largely due to improved margins and one-time benefits contributing along with lower ETR (15%). EBITDA margins were benefited by product mix, lower freight rates and lower staff costs. Along with lower forex losses and lower R&D spend kept the other expenses lower. The revenue growth of 5% YoY was driven by India and US sales while rest of the markets supported with growth recovery. The US revenues were below our estimates as weakest flu season in US impacted the sales recovery. gAlbuterol continues to drive the US sales base, with current market share at 9%. We believe most of the niche launches would be in late FY22E and FY23E. We have reduced estimates our FY21E/22E by 3%/11% respectively and we roll over to FY23E. We maintain our Add rating with the 24xFY22E EPS of Rs 44.7 with target price of Rs 1,075. "

1. 57 PM: Cement Sector outlook

JM Financial in its note said today," Analysis of the cement volume data transported through rail indicates the strong demand momentum continued in Jan'21. Volumes transported through railways have grown by 10% MoM in Jan'21 (+16.8% YoY; +22% vs. Oct'20). The cement demand growth which began in Sep'20 witnessed strong momentum in Oct'20 and Nov'20 with volumes transported growing by 26% and 32% YoY respectively. However, growth rates have moderated in Dec'20 and Jan'21 to 19% and 17% YoY respectively."

1. 47 PM: Currency Outlook

Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said," The rupee opened on flat at 72.93 against the US dollar in opening trade on Wednesday morning, the rupee open in green at 0.08 paisa, On Wednesday it closed 72.94 against greenback.

The U.S. Dollar Index is at 91.17 against currency basket, It trading above 50 Day SMA and likely to go towards 100 days SMA showing bullish momentum. Asian Equity market trading flat on the morning. Technically, USDINR Feb Future closed at 73.11. it is expected to trade with bullish momentum for the day, Spot pair took support of 72.80 and come up, it took resistance of 21 days SMA placed at 73.08 and closed below it, It is expected to open near 72.90, Strong Dollar index, Flat Equity market will help dollar to go up side. Local banks are defending 72.80 levels very strongly."

1. 31 PM: Manappuram Finance stock outlook

Reliance Research said in its note today,"The stock failed to surpass its short-term resistance (Rs187) and reversed down. On the lower side, the stock found support at around its Oct 20 low of Rs 153 and bounced to Rs 185. Overbought technical indicators on the near-term timeframe chart signal the stock may not to be able to surpass that resistance. Hence, its advised to close the long trade at current juncture (Rs 183)."

1. 23 PM: Investor wealth crosses Rs 200 lakh crore for first time

Market cap of BSE-listed firms crossed Rs 200 lakh crore for the first time after Sensex scaled high of 50, 474 in trade today. Investor wealth rose to Rs 200.11 lakh crore against the previous close of Rs 198.43 lakh crore on BSE.

The rise in market wealth comes after FM Nirmala Sitharaman presented a growth-oriented Budget, with higher fiscal deficit limits and privatisation plans that buoyed investors.

Investor wealth crosses Rs 200 lakh crore for first time as Budget 2021 sparks record Sensex rally

1. 13PM: Rupee rises 6 paise to 72.90

Indian rupee, the domestic currency appreciated by 6 paise to 72.90 per US dollar on Thursday's opening trade, amid muted domestic equities.

The local unit opened at 72.92 against the US dollar at the interbank forex market and inched 6 paise higher to 72.90 over its previous close in early deals.

On Wednesday, the rupee had settled flat at 72.96 per American currency. Meanwhile, the dollar index advanced 0.07 per cent to 91.23 against a basket of six currencies.

Rupee rises 6 paise to 72.90 per US dollar in early trade

12. 58 PM: Ujjavan SFB outlook

JM Financial said in its note,"Key points to note from Ujjivan SFB's 3QFY21 are: up-fronting of asset quality pain, business operations back to pre-covid levels and focus on long term strategy of transitioning into a mass market bank as it ramps up diversification of asset products and liabilities gain traction. Ujjivan SFB reported a loss of INR 2.8 bn driven by elevated credit costs of 8.1% as management decided to up-front the entire impact of Covid during 3QFY21. Management indicated that overall collection efficiency is swiftly reverting back to pre-covid levels however, they are facing some stress in few pockets. Management further indicated that the restructuring pool stands at 8.5% of MFI loan book and they are seeing encouraging collection efficiency trends in this book. Ujjivan now holds 7.6% additional covid related provisions and management expects credit costs to revert back to pre-covid levels from 4QFY21 onwards. While the AUM growth was muted (flat YoY), management expects the loan growth to improve going ahead given strong disbursement trends. We find current valuations of 1.6x FY23E P/B undemanding given the granular asset mix, longer growth runway and improving asset balance. We maintain BUY with a target price of INR 48- valuing Ujjivan SFB at 2.0x FY23E BVPS."

12. 44 PM: Market update

After a volatile start, market indices turned positive for the fourth straight session post Union Budget 2021 and traded near lifetime highs on Thursday, amid positive global equities. Sensex rose 150 points higher at 50,384 and Nifty gained by 50 points to 14,840.

12. 34 PM: Global markets

Asian markets are trading slightly down as investors looked to take profits after the recent runup. Australia's exports rose 3% MoM.

US markets saw profit booking from recent highs even as Amazon and Google reported healthy quarterly earnings.

Energy shares helped markets in not giving up much ground European markets closed higher as positivity in terms of better quarterly earnings helped. Amazon and Alphabet came out with strong earnings numbers. Italy to remain in focus.

12.23 PM: Nifty Outlook

Geojit Financial said in its note," Following the early hour dip yesterday, the bullish onslaught began earlier than we expected, but almost achieved the upside target of 14890. The next challenge is 15200, but we expect to hit rough weather soon. But until 14720 or 14540 gives away, the upside momentum could dominate."

12. 00 PM: Market update

After a volatile start, market indices turned positive for the fourth straight session post Union Budget 2021 and traded near lifetime highs on Thursday, amid positive global equities. Sensex rose 40 points higher at 50, 295 and Nifty gained by 17 points to 14,807.

11. 52 AM: Stocks to watch today on February 4

Airtel, Bajaj Consumer Care, Adani Transmission, Bandhan Bank, Hero MotoCorp among others are the top stocks to watch out for in Thursday's trading session

Stocks in news: Airtel, Bajaj Consumer Care, Adani Transmission, Bandhan Bank, Hero MotoCorp

11. 46 AM: Global markets today

Geojit Financial said in ite note today," Overseas, Asian stocks are trading mostly lower on Thursday following another positive session overnight for the S&P 500 stateside.

In US, the Dow and S&P 500 rose slightly on Wednesday, registering a third straight session of gains, with Alphabet Inc's shares hitting a record high following its strong quarterly results.

The House passed a budget resolution Wednesday, a key step as Democrats push toward a vote on a $1.9 trillion coronavirus relief package. Approval of the measure allows Congress to move forward with reconciliation, through which Democrats can pass an aid bill without Republican support. The Senate is expected to approve a resolution later this week."

11. 35 AM: FII action on Wednesday

Foreign portfolio investors (FPIs) bought shares worth Rs 2,520.92 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 399.74 crore in the Indian equity market on 3 February, provisional data showed.

11. 22 AM: Apollo Tyres share rises 12%

Apollo Tyres share rose to a fresh 52-week high in early trade after the firm reported posted over two-fold increase in its consolidated net profit for quarter ended December 2020.

The stock opened with a gain of 4.84% at  Rs 228.30 against previous close of Rs  227.30. The stock touched an intraday high of Rs 254.85, rising 12.12% on BSE.

Apollo Tyres share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 54.8% in one year and risen 40.41% since the beginning of this year. In a month, the share has climbed 32.56%. Market cap of the firm rose to Rs 16,185 crore on BSE.

Apollo Tyres share rises 12% as Q3 net profit zooms over two-fold to Rs 444 cr

11.07 AM: Market outlook

On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has become a tad nervous as it is en route to the next psychological level of 15000. It is taking a bit of a breather. The trend continues to remain bullish and we should be able to achieve 15000 during the course of this month. A buy on dips approach would be advisable. We have a support range between 14200-14400 and as long as that is holding strong, we can safely accumulate long positions in this market.

10. 59 AM: Tata consumer Products outlook

JMFL said in its note,"TCPL's Dec-Q report was a mixed bag with strong revenue performance but flowthrough was impacted by (much) higher-than-expected tea-price inflation and also quite a steep increase in domestic ad-spends. Notwithstanding that, the company still delivered a double-digit growth in overall EBITDA even though domestic beverages EBIT declined by more than one-third - approach on price-hikes has been more calibrated given that the very sharp tea-price inflation is seen to be transient; such a strategy is also helping TCPL drive strong volume and share gains. One interesting development is the acquisition of 'Soulfull' breakfast cereals and millets-based snacks brand for a consideration of INR1.56bn plus earnout - price works out to c.4x FY20 sales but Soulfull can undoubtedly be a much bigger brand in TCPL's hands, just by virtue of its distribution reach alone. This could also be the start of TCPL's packaged foods journey beyond the bare staples space. Execution would be critical. Stock is expensive based on near-term forecasts; narratives would need to be decisively converted into tangible earnings for valuation multiples to sustain, in our view."

10. 40 AM: LIC Housing Finance (LICHF) Q3 outlook

Geojit Financial Services said," In Q3FY21, Net Interest Margin (NIM) contracted ~6bps YoY to 2.36%. Net Profit grew 21.7% YoY to Rs. 727cr, owing to decline in provisions and increase in net interest income. The improvement in economy supported by reduction in provisions, stamp duty, home loan rate, and closure of PMAY in March 2021 will boost the demand in real estate sector. Hence, we reiterate our BUY rating on the stock with a target price of Rs. 515 based on rolled over multiple of 1x FY23E BVPS."

10. 33 AM: Nifty Tech View

Rohit Singre, Senior Technical Analyst at LKP Securities said,"Index has witnessed a fresh breakout above 14753 which was a previous swing high and closed a day at 14790 with gains of one percent forming a Doji sort of candle pattern on the daily chart. Again index has shifted its base to 14700-14600 zone if managed to sustain above-said levels buy on dip structure will be intact with keeping stop out level below 14600 zone and if current levels are held then the index is good to touch 15k mark soon which is immediate & strong hurdle on the higher side"

10. 22 AM: Mrs. Bector stock outlook

Keshav Lahoti- Associate Equity Analyst, Angel Broking said,"Mrs. Bector Food Specialities are one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India. Company manufactures and markets a range of the biscuits such as cookies, creams, crackers, digestives and glucose under our flagship brand Mrs. Bectors Cremica. Stock has corrected 33% in the last 1 month due to high valuation. We believe now stock is available at reasonable valuation.  It is one of the leading brands in biscuits and bakery businesses in North India. Also, Company is the leading exporter of biscuits. For the next few years, we expect the domestic biscuit and bakery market to grow by 9% due to urbanization, increase in disposable income, favorable government policy. On the other hand, the institutional Indian bakery industry is expected to grow by 20% due to increasing market share of QSR chain. We think the company should be able to grow in line with the industry managed by the promoters having more than 25 years of sector knowledge. We advise investors to buy Mrs Bectors."

10. 12 AM: Nifty outlook

Keshav Lahoti-Associate Equity Analyst, Angel Broking-said,"Market hits new high after three consecutive rallies after growth oriented budget delivered by the Finance Minister Nirmala Sitharaman. All the sectors except Realty, Media and FMCG closed in green. We believe the market has factored in positive announcements made in the budget after three consecutive days of rallies. Future Retail lost 5 percent (lower circuit) after a court blocked Future Group's sale of assets to Reliance Industries. Bharti Airtel rose about 1.6% ahead of its earnings release. Global cues were supportive: Nasdaq futures was up by 0.6%, Dow Futures and FTSE were flat. We expect the market to continue with its bull run to hit fresh high, although we  expect some correction after each rally. We advise investors to use correction in the market as an opportunity to buy.

10.00 AM: Nifty technical outlook

Vinod Nair, Head of Research at Geojit Financial Services said,"The market has got a renewed focus on segments which are likely to be mostly benefited by a sustainable revamp in the domestic economy. The broader market is outrunning the benchmark with Pharma, Infra and PSU banks as the imminent leaders. Positive quarterly earnings is leading to a large upgrade in earnings forecast, which is also acting as a key tailwind in the rally"

9. 50 AM: Tata Motors - buy rating

Geojit Financial Services  said,"With the help of several cost cutting initiatives, margins improved significantly in Q3FY21. EBITDA Margin up by 540 bps YoY and EBIT margin up by 450 bps YoY. As supply chain issues in various markets get resolved, we expect JLR revenues to pick up gradually. Also, vaccination drive progress in India enabling re-opening of schools, offices could increase demand for commercial vehicles adding to overall demand. We reiterate our BUY rating on the stock with a revised target price of Rs. 372 based on SOTP valuation methodology."

9. 47 AM: Market outlook

Ajit Mishra, VP - Research, Religare Broking said, "Markets extended the momentum for yet another session and gained nearly a percent. After the initial hiccups, the benchmark gradually inched higher and made a new record high as well. Upbeat global cues combined with decent quarterly earnings from companies supported the rally. Consequently, the Nifty ended at 14,790 levels, higher by 1%. Amongst the broader markets midcap and smallcap outperformed and ended in the range of 1.4-1.5%. Except FMCG and realty, all the other sectoral indices ended in the green.

The budget has completely turned the market mood and the ongoing earnings season has also been decent so far. We reiterate our bullish view on markets and suggest continuing with the buy on dips approach."

9. 31 AM: Hawkins Cookers 3QFY21 outlook

Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," For 3QFY21, Hawkins Cookers Ltd's (HCL) top-line grew by 20% yoy to Rs231cr on back of improvement in demand. On the operating front, the company reported margins contraction (down 217bps yoy) mainly due to higher operating expenses. On the bottom-line front, HCL reported growth of 8% yoy to Rs24cr. Going forward, we expect healthy revenue growth on the back of new product launches, strong brand name and wide distribution network. Hence, we are positive on stock with buy rating."

9. 22 AM: Morning view on the market

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said," The party continues on Dalal Street with FPI flows remaining robust. Even though the rise in the dollar index and crude are dampeners, they are unlikely to impact the positivity generated by a growth-oriented Budget and the flow of impressive corporate results. The bulk of the FII money are flowing into large-cap bluechips, particularly financials. Now there is more value in mid-small-caps and results from the segment too have been good. Both Sensex & Nifty are now around 93 % up from their 2020 March lows. A raging Bull market can pleasantly surprise even the incorrigible optimists."

9. 10 AM: Bharti Airtel Q3 outlook

Keshav Lahoti-Associate Equity Analyst, Angel Broking said," Bharti Airtel posts the highest ever consolidated quarterly revenues of Rs 26,518 crore- up 24.2% YoY.  India business witnessed highest ever quarterly revenues of Rs 19,007 crore -up 25.1% YoY. Mobile services India revenues up 32.4% YoY led by improving realizations coupled with strong customer additions.  Consolidated EBITDA at Rs 12,178 crore; EBITDA margin at 45.9% - improvement of 464 bps YoY.  Consolidated Net income (after Exceptional items) at Rs 854 crore.  Mobile ARPU at Rs 166 vs Rs 135 in Q3'20, Rs 162 in Q2FY21. Overall, numbers were above street expectation in all the fronts.

We are bullish on Bharti Airtel as the company's ARPU is increasing and for the last few months, it is adding the highest number of subscribers in the industry. In the upcoming years, Company will gain market share. We expect re-rating in the multiples for the Company and expect the stock to make fresh highs. "

9.00 AM: Brookfield REIT IPO subscribed 15% on Day 1

The initial public offer (IPO) of Brookfield India Real Estate Trust (REIT) started on a slow note, with only 15 per cent of the issue being subscribed on the first day. The Rs 3,800 crore IPO received bids for 1,15,12,600 shares against the issue size of 7,62,78,200 units, as per the exchange data.

Brookfield REIT IPO subscribed 15% on Day 1

8.50 AM: Results today

State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, Arvind, Bajaj Electricals, Chambal Fertilisers, Container Corporation, Gillette India, Godrej Agrovet, Godrej Properties, HPCL, Honeywell Automation India, ICRA, Ipca Laboratories, Jubilant Industries, Kalpataru Power Transmission, NTPC, REC, Sonata Software, Strides Pharma Science, Tata Power, Trent, Whirlpool of India, Zee Entertainment Enterprises among others are scheduled to report Q3 earnings today.

8. 45 AM: Closing on Wednesday

Extending gains for the third session after Union Budget 2021, Sensex ended 458 points higher at 50,225 and Nifty gained 142 points to 14,789.Sensex and Nifty hit their all-time highs in early trade as investors were enthused by a Budget aimed at economic recovery amid Covid -19 crisis. Sensex and Nifty hit lifetime highs of 50,526 and 14,868 during today's session. Earlier, Sensex and Nifty hit fresh record highs of 50,184 and 14,753, on January 21.