Sensex and Nifty rise to close at a record high for the second consecutive day


Stock Market India: Sensex, Nifty close at a record high for the second session in a row

Indian equity benchmarks rose slightly on Friday to close at an all-time high for the second day in a row after swinging during the session. This marked the fourth straight day of gains driven by expectations that the Federal Reserve would ease the pace of its aggressive tightening as early next month.

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The BSE Sensex index rose 20.96 points to close at a new high of 62,293.64, and the broader NSE Nifty index also finished at a new high of 18,512.75, up 0.15 percent, a day after both benchmarks closed a lifetime high.

The Sensex index also hit an all-time high of 62,447.73 on Friday, breaking the previous all-time high of 62,245.43 set in October last year.

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Both benchmarks were also gains for the fourth session in a row on Friday.

The boost in risk sentiment came after Fed officials gave markets a Thanksgiving treat in the form of minutes from their most recent policy meeting.

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

For now, however, Asian markets were on track to record their fourth straight weekly gains.

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The MSCI Asia ex-Japan Index is expected to post its fourth weekly gain in a row; so far it is up 14 percent in November, the best month since March 2009.

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