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Market rises for 3rd day, Nifty tops 14,800; metal stocks shine

Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. PSU banks corrected while metals stocks extended rally on improved sectoral outlook. The S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.15. The Sensex has risen 1.97% and the Nifty has climbed 2.25% in three consecutive sessions. Global stock market advanced as investors welcomed an encouraging private jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.

More Americans Working in April, But the Unemployment Rate Rises to 6 1%

By Susan Jones | May 7, 2021 | 7:49am EDT The travel industry is among those making a comeback from the darkest days of the COVID pandemic. (Photo by DANIEL SLIM/AFP via Getty Images) (CNSNews.com) - Friday s jobs report reflects a reopening economy that still has a long way to go to match its Trump-era strength. Contrary to bullish expectations, the unemployment rate actually ticked up a tenth of a point to 6.1 percent in April, and the economy added 266,000 jobs, far fewer than the 770,000 (revised) added in March and the 536,000 added in February. Notably, the number of employed Americans increased in April for the 12th consecutive month since the economy tanked under COVID pressure in April 2020. Last month, BLS said 151,176,000 Americans were employed. That is 318,000 more than in March, and 1,145,000 more than when Joe Biden took office in January.

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