Sensex, Nifty Rally On Global Cues; IT And Financials Lead Gainers

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Sensex, Nifty Rally On Global Cues; IT And Financials Lead Gainers

(RTTNews) - Indian shares rose sharply on Friday, mirroring positive global cues amid hopes that U.S. inflation may have peaked around 8 percent and would trend lower in the coming months.

Encouraging earnings updates from IT firms Infosys and MindTree coupled with reports suggesting that the British government will announce a U-turn on elements of its 43-billion-pound package of unfunded tax cuts that sparked turmoil in financial markets over the past few weeks also buoyed sentiment.

The benchmark S&P BSE Sensex hit an intraday high of 58,435.12 before closing at 57,919.97, up 684.64 points, or 1.20 percent, from its previous close.

The broader NSE Nifty index gained 171.35 points, or 1.01 percent, to settle at 17,185.70.

ICICI Bank, HCL Technologies, HDFC, HDFC Bank and Infosys climbed 2-4 percent in the Nifty pack while Adani Enterprises, Bajaj Auto, Mahindra & Mahindra, JSW Steel and ONGC dropped 1-2 percent.

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Euro Higher Against Majors

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.
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TSX Down Marginally In Lackluster Trade

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.
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Swiss Market Ends On Firm Note

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The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.
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European Stocks Close Mixed After Cautious Session

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.
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U.S. Business Inventories Rise In Line With Estimates In June

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U.S. Consumer Sentiment Unexpectedly Deteriorates In August

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

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U.S. Industrial Production Pulls Back Slightly In July

U.S. Industrial Production Pulls Back Slightly In July

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New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

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