Sensex hits record high, Nifty reclaims 9,500 ahead of May F&O expiry

The broader market snapped six-session losing streak to gain 0.9% and 1.5%, respectively

The S&P BSE Sensex hits its record high in late afternoon deals as traders seemed to have been covering their short positions before expiry of the May series of derivative contracts due later today. 

Asian markets hitting their two-year highs after the US Federal Reserve signalled a more cautious approach to future rate hikes, also contributed to the gains. 

At 3:06 pm, the S&P BSE Sensex was trading at 30,756, up 455 points, while the broader Nifty50 was ruling at 9,512, up 152 points. 

The broader market snapped six-session losing streak to gain 1.5% and 2%, respectively. 

The market breadth, indicating