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Sensex, Nifty closer to all-time highs: Why stock market is rising today
Stock market today: Sensex reclaimed the 75,000-mark and Nifty was back above the 22,700-level.
Stock market today: Benchmark Sensex and Nifty 50 opened on a tepid note today (April 30) after tracking sharp gains in the previous session. The indices, although, moved ahead in the session to move towards new peaks owing to positive cues from global markets and robust Q4 earnings from most companies.
Sensex and Nifty today
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Sensex reclaimed the 75,000-mark and Nifty was back above the 22,700-level. With this, 30-stock Sensex and the Nifty 50 are near their respective record highs. Sensex is up over 200 points or 0.27 per cent today and Nifty was up 71.30 points or 0.31 per cent at 22,714.70.
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In the session, about 1,892 shares rose, 1,088 fell, while 93 remained unchanged.
Cues from global stocks?
Asian stocks advanced after Wall Street was bolstered by a strong start to the earnings season led by the “Magnificent Seven" big-tech companies. Equity benchmarks gained in Japan and South Korea and Australian stocks remained steady.
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Futures contracts for US shares were also little changed after the S&P 500 continued its month-end rebound despite bets the Federal Reserve will keep interest rates higher for longer. Meanwhile, in commodities, oil held its biggest drop in almost two weeks amid reports of a possible ceasefire in the Middle East.
