Sensex, Nifty Follow Global Peers Higher
(RTTNews) - Indian shares rose notably on Tuesday as fears of contagion in the banking sector subsided after the rescue of Credit Suisse by UBS and moves by central banks to improve dollar liquidity.
Investors also hoped for less-aggressive moves by the U.S. Federal Reserve on Wednesday to alleviate concerns about further damage to credit markets and smaller U.S. lenders.
The benchmark S&P BSE Sensex jumped 445.73 points, or 0.77 percent, to 58,074.68, reflecting positive moves across global markets.
The broader NSE Nifty index settled 119.10 points, or 0.7 percent, higher at 17,107.50, led by Reliance Industries, financials and auto stocks.
SBI Life, Bajaj Auto, Bajaj Finance, Reliance Industries and HDFC Life rallied 2-3 percent in the Nifty pack while Divis Laboratories, Tech Mahindra, Britannia Industries, Hindustan Unilever and Power Grid Corp fell 1-2 percent.
The rupee was largely flat in European trade and gold edged lower while oil extended gains from the previous session.
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