The benchmark index made a new all-time high of 7 thousand 203.3, surging past the 7 thousand 200-mark for the first time. However, the market faced some selling pressure from the higher levels and closed 0.25 per cent. The US market was closed on account of Memorial Day. The US stock market rose on Friday as investors shrugged off a stronger-than-expected inflation reading. The Dow Jones rose 0.19 per cent, while the S&P 500 gained 0.08 on Friday. The NASDAQ Composite added 0.09 per cent.
The latest outbreak was caused by a returning resident, who left hotel quarantine in neighbouring South Australia state after testing negative, but later tested positive in Melbourne. Medical officials have said the latest COVID-19 variant, first detected in India, was likely to be more virulent than the original strains, taking just one day to infect another person compared with earlier strains which can take about five or six. Australian energy players such as Santos, Beach Energy, Oil Search and Woodside Petroleum could trade higher today amid oil prices uptick. Dogecoin also registered some gains, trading 7.6 per cent up, at 32.55 US cents.