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Sensex Rises 320 Points; Nifty Nears 20,200
(RTTNews) - Indian shares advanced on Friday on the back of upbeat global sentiment after the European Central Bank signaled that Thursday's rate hike could be the last hike in the current cycle.
Robust U.S. economic data failed to budge expectations that the Federal Reserve will leave its key interest rate unchanged next week.
Also, China reported improved economic data for August and also announced a cut to banks' reserve requirement ratio, helping spur a global rally.
Benchmark indexes Sensex and Nifty scaled fresh record highs for a second day running, tracking strength across world markets.
The benchmark S&P BSE Sensex ended the session up 319.63 points, or 0.47 percent, at 67,838.63 while the broader NSE Nifty index closed up 89.25 points, or 0.44 percent, at 20,192.35.
Bajaj Auto topped the gainers list to rally 6.3 percent, while Hero MotoCorp, Mahindra & Mahindra, Grasim and HCL Technologies all rose around 2 percent.
On the flip side, Asian Paints, Hindustan Unilever and BPCL all ended down over 1 percent.
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