Stock market live: After an initial rally that propelled the Nifty 50 index to an all-time high, India’s benchmark index eroded all its gains and slipped into the red. The Nifty 50 index today crossed its all-time high of 22,783.3 in the first hour of trading.
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Benchmarks opened higher on Friday (May 3) on stimulus from global markets. The Sensex opened 406.71 points or 0.55% higher at 75,017.80, while the Nifty opened 118.10 or 0.52% higher at 22,766.30.
India’s Gift Nifty was trading 22,897.00 points higher at 113.50 points at the opening bell. Blue chip indexes ended higher in pre-market trading as markets digested the US Federal Reserve’s less hawkish stance and easing oil prices. Brent crude oil prices are trading below $85 per barrel.
In the Sensex basket, Bajaj Finance surged 6 per cent and Bajaj Finserv rose nearly 5 per cent after the Reserve Bank of India lifted sanctions and restrictions on disbursement of loans through eCOM and InstaEMI cards. .
However, oil prices rose slightly in the past two sessions. Brent crude oil was trading 0.31% higher at $83.93 per barrel, while WTI crude oil prices were trading 0.33% higher at $79.21 per barrel.
Reuters reported that Vishnu Kant Upadhyay, assistant vice president of research at Master Capital Services Advisory, said that the easing of tensions in West Asia between Israel and Iran, and strong domestic interests, There is growing optimism and buying interest among traders.
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