Sensex and Nifty close at record high for second consecutive day

Sensex and Nifty close at record high for second consecutive day


Stock Market India: Sensex, Nifty close at record highs for second straight session

Indian equity benchmarks on Friday closed at record highs for the second day in a row with modest gains, after a see-saw during the session, marking the fourth straight day of gains driven by expectations the Federal Reserve will reduce the pace of its aggressive tightening. Early next month.

The BSE Sensex index ended 20.96 points higher at a fresh record high of 62,293.64, and the broader NSE Nifty index also ended 0.15 per cent higher at a new all-time high of 18,512.75, a day after both the benchmarks had hit lifetime closes. High.

The Sensex index also hit a record intra-day high of 62,447.73 on Friday, smashing its previous best of 62,245.43 hit in October last year.

With a rise of 1.34 per cent, Reliance Industries led the Sensex index. Wipro, Tech Mahindra, Axis Bank, IndusInd Bank, Maruti, Tata Steel and Mahindra & Mahindra were also among the top gainers.

On the other hand, the major losers were Nestle, Kotak Mahindra Bank, ICICI Bank and HCL Technologies.

Both the benchmarks also registered gains for the fourth consecutive session on Friday.

Risk sentiment rose after Fed officials delivered a Thanksgiving treat to the markets in the form of the minutes of their most recent policy meeting.

Still, the Fed minutes warned that a US recession in 2023 is “almost as likely as the baseline (forecast).”

For now, though, Asian markets were chalking up their fourth straight weekly gain.

The MSCI Asia ex-Japan index is expected to post its fourth straight weekly gain; So far in November, it has gained 14 per cent, its best month since March 2009.

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Indian Lekhak

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