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Closing Bell: Sensex jumps 450 points; Nifty near 18,500; HDFC Bank, Tata Steel surge

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Indian share market closed at a record high despite a tepid performance in the global markets. Sensex closed at a record high of 61,756, as it rose 459 points and the Nifty50 index surged 138 points to end at 18,476.

Closing Bell: Sensex jumps 450 points; Nifty near 18,500; HDFC Bank, Tata Steel surge
The Indian equity benchmark indices closed at record highs for the sixth straight session led by buying across the sectors. The breadth of the market is neutral and the advance-decline ratio is at 1:1.
The 30-scrip Sensex closed at a record high of 61,756, as it rose 459 points and the Nifty50 index surged 138 points to end at 18,476. The broader markets supported the rally as both mid-caps and small-caps rallied a percent higher. Sensex hit an intra-day lifetime high of 61,963 and Nifty surged to 18,543.
Among the 50 stocks on Nifty, Hindalco, Infosys, Tech Mahindra, JSW Steel, and Tata Steel lead the gains, as each scrip rose over 2.5 to 5 percent. Leading the losses were HCL Tech, Mahindra & Mahindra, Asian Paints, Dr Reddy's, and Britannia.
Among sectors on NSE, a strong rally was seen in metal, bank, IT, and PSU bank indices, while pharma and media indices declined over half a percent. PSU Banks saw another day of healthy gains with Union Bank gaining 9 percent and PNB up 8 percent.
IRCTC continued to surge higher as the stock climbed  8 percent higher to close at a record high. Auto stocks remained under pressure on muted festival demand with Mahindra & Mahindra being the top loser.
Globally, world shares slowed their charge after data showed slower-than-expected growth in China and surging oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent.
Nasdaq futures and S&P 500 futures were declining as well, with both e-minis down over 0.2 percent. The pan-European STOXX 600 index fell 0.4 percent dragged by luxury stocks with exposure to China and poor earnings updates.
Over in commodities, oil prices extended a recent rally amid a global energy shortage with U.S. crude touching a seven-year high and Brent a three-year peak.
Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of only gradual increases to output. Gold fell 0.2 percent at $1,763 an ounce, after falling 1.5 percent Friday as upbeat retail sales drove US bond yields higher.
With inputs from Reuters
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