• Source:PTI
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Stock Market Today: Domestic stock market benchmark indices Sensex and Nifty rose in early trade on Friday following a strong trend in global markets. The 30-share BSE benchmark Sensex rose 282.35 points to trade over 76,800, while, NSE's Nifty 50 rose 86.7 points to trade near 23,300 in early trade.  

UltraTech Cement, Power Grid, Tata Steel, NTPC, Axis Bank and Asian Paints were the main gainers from the 30-share blue chip pack. Sun Pharma, Zomato, Tata Motors and Kotak Mahindra Bank were among the laggards.

In Asian markets, Seoul, Shanghai, Hong Kong and Tokyo traded positively on Thursday following a rally in US markets.

US President Donald Trump, speaking at the World Economic Forum on Thursday, proposed to business leaders that they would have to pay lower taxes if they manufacture their products in the US while threatening to impose tariffs if they do not do so.

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Addressing the forum's annual meeting through video conferencing, Trump said he would ask Saudi Arabia and OPEC to reduce oil prices and said the Russia-Ukraine war would end immediately if prices fall.

He said food prices are skyrocketing across the world and he called for immediate action to control inflation in the United States.

Foreign institutional investors sold equities worth Rs 5,462.52 crore on Thursday, according to exchange data. Global benchmark Brent crude fell 0.19 per cent to USD 78.14 per barrel.

The benchmark BSE index Sensex rose 115.39 points, or 0.15 per cent, to 76,520.38 on Thursday. The Nifty closed 50 points, or 0.22 per cent, higher at 23,205.35.

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(With Inputs From PTI)