Stock market live updates: Indian equity benchmarks rose for the second consecutive session this week, led mainly by bank stocks. The Nifty Bank Index, which hit an all-time high on Monday, is moving rapidly towards its next target of 50,000 mark.
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Earlier today, Tuesday (April 30), the index opened in the green in response to strong global cues. BSE Sensex opened at 74,800.90, up 129.69 points or 0.17%, while NSE Nifty opened at 22,679.70, up 36.60 points or 0.16%.
Mahindra & Mahindra, Maruti, Tata Motors, Ultratech Cement, HCL Technologies and Nestle were the major gainers from the Sensex basket. On the other hand, Bharti Airtel, Tech Mahindra, HDFC Bank and State Bank of India were among the laggards.
The rupee depreciated by 3 paise to open at 83.48 rupees against the US dollar as the US currency strengthened. against major Asian rivals and rising oil prices.
In interbank foreign exchange, the domestic currency opened at $83.46 against the dollar and then further depreciated to $83.48, registering a loss of 3 paise compared to the previous closing level. On Monday, the rupee fell by 7 paise to settle at 83.45 rupees against the US dollar.
Gaurang Somaiya of Motilal Oswal Financial Services said the US Federal Reserve’s “hawkish outlook” could push the rupee into a weaker range of 83.40-83.70 rupees. Stated.
Asian stocks edged higher as Japan’s Nikkei stock average rose following a strong finish on Wall Street overnight. The Nikkei Stock Average rose 1.38% to $38,459.01, and the overall TOPIX rose 2.01% to $2,740.54. Shares in chip-making equipment maker Tokyo Electron rose more than 2%, and silicon wafer maker Shin-Etsu Chemical rose more than 4%.
“Since last weekend, US stocks have been strong, but US yields have fallen. That supported Japanese stocks today,” Daiwa Securities senior strategist Shuji Hosoi told Reuters.
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