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(Bloomberg) — India’s benchmark S&P BSE Sensex climbed above 50,000 points for the first time as foreign funds continue to buy local stocks amid hopes of a strong post-pandemic economic recovery.
The Sensex was up 0.5% at 50,062.00 as of 9:51 a.m. in Mumbai after rising as high as 50,126.73. The measure is set to gain for a 12th straight week, the longest winning streak since 2009. The Nifty 50 index was also up 0.5%, with investors seeking cues from the ongoing results season while awaiting the federal budget that will be presented on Feb. 1.
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