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Sensex flourishes by 1039 points, Nifty shines by 312 points

At the closing of today's session, Sensex showed positive returns of 1.86% while Nifty showed returns of 1.87%. The momentum at noon that was provided by the banking and IT sectors was sustained in the closing sessions. 29 out of 30 sectoral indices posted positive returns today. Overall, 2236 stocks advanced and 1113 stocks declined today. The market sentiments may be tested by the US Federal Reserve meeting regarding rate hikes. Indian indices have performed strongly in comparison to many other Asian indices, such as the Hong Kong exchange which witnessed a very large selloff on Chinese stocks due to international pressure in the wake of the Russia-Ukraine conflict.

In view of commodities, gold and silver posted negative results but may increase with respect to the Fed's rate hike decision. Crude oil dipped by 0.77%, but natural gas surprisingly gained 2.07% 

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