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Home CURRENT AFFAIRS BUSINESS Stock Market Update: Sensex and Nifty close at a record high, each...

Stock Market Update: Sensex and Nifty close at a record high, each gain over 1%

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Stock Market Update: The benchmarks for Indian equities rose sharply to close at a fresh record high, extending their gains for the third session in a row thanks to a rise in global risk assets after the minutes of the Federal Reserve meeting revealed support for gradual rate increases going forward.

The US Fed minutes’ indication of a modest pace of rate hikes moving forward, which eventually drove the benchmark indices Sensex & Nifty to fresh all-time highs, prompted investors to close out their short positions on the expiry day, according to Shrikant chouhan, Head of Equity Research for Retail at Kotak Securities.

To conclude at an all-time high of 18,484.10, the NSE Nifty-50 index as a whole gained 216.85 points

The broad NSE Nifty-50 index increased 216.85 points, or 1.19 percent, to close at an all-time high of 18,484.10, while the 30-share BSE Sensex index surged 762.10 points, or 1.24 percent, to a new record closing high of 62,272.68.

Stock Market Update: Asian shares mostly increased along with Wall Street

After the S&P 500 ended at a two-month high overnight, Asian shares mainly followed Wall Street higher on Thursday.A measure of global stocks was on course to record a third straight gain, as European equities maintained their stability despite lower-than-expected trading volumes as a result of the US market’s closure for the Thanksgiving holiday.

Oil prices are anticipated to challenge a major support level hit in September on the crude market

Oil prices might fall to levels not seen since early 2021 if that threshold is crossed.US crude oil futures decreased even further on Thursday, falling to $77.74 a barrel, after losing more than 3% on Wednesday even as the Group of Seven (G7) nations considered placing a price restriction on Russian oil above the current market price.

Also read: Honda Shine: The most trusted bike in India has a special offer; you can ride it home without paying a penny, here’s how

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