Sensex, Nifty closer to all-time highs: Why stock market is rising today

Stock market today: Benchmark Sensex and Nifty 50 opened on a tepid note today (April 30) after tracking sharp gains in the previous session. The indices, although, moved ahead in the session to move towards new peaks owing to positive cues from global markets and robust Q4 earnings from most companies.

Stock market today: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)

Sensex and Nifty today

Read more: Australia to ban MDH, Everest spices? Regulator ‘assesses alleged contamination'

Sensex reclaimed the 75,000-mark and Nifty was back above the 22,700-level. With this, 30-stock Sensex and the Nifty 50 are near their respective record highs. Sensex is up over 200 points or 0.27 per cent today and Nifty was up 71.30 points or 0.31 per cent at 22,714.70.

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

Read more: Massive debut! Varyaa Creations share price lists with 90% premium at ₹285 apiece on BSE SME

In the session, about 1,892 shares rose, 1,088 fell, while 93 remained unchanged.

Cues from global stocks?

Asian stocks advanced after Wall Street was bolstered by a strong start to the earnings season led by the “Magnificent Seven" big-tech companies. Equity benchmarks gained in Japan and South Korea and Australian stocks remained steady.

Read more: Reliance buys its first Canadian crude from Trans Mountain pipeline: Report

Futures contracts for US shares were also little changed after the S&P 500 continued its month-end rebound despite bets the Federal Reserve will keep interest rates higher for longer. Meanwhile, in commodities, oil held its biggest drop in almost two weeks amid reports of a possible ceasefire in the Middle East.

Discover the pivotal moments that shaped India's electoral journey on the Eras section of our exclusive Elections product. Access all content absolutely free on the HT App. Download now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs

• ABOUT THE AUTHOR

  

  Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.