Sensex, Nifty Climb Led By IT Stocks And Financials
(RTTNews) - Indian shares rose notably on Tuesday, with firm global cues offering some support amid signs of further easing of China's COVID restrictions and hopes of a less hawkish Federal Reserve.
Closer home, data showed domestic retail inflation declined to levels below the RBI's tolerance level in November - raising optimism the headline inflation rate will continue to fall through the rest of the year.
Investors shrugged off disappointing industrial production data for the month.
The benchmark S&P BSE Sensex jumped 402.73 points, or 0.65 percent, to 62.533.30, snapping a two-day losing streak.
The broader NSE Nifty index climbed 110.85 points, or 0.60 percent, to 18,608. IT stocks and financials topped the gainers list, with TCS, HL Technologies, Infosys, Bajaj Finance and IndusInd Bank rising 1-2 percent.
YES Bank shares extended their rally for a third straight session, rising 13.7 percent to hit a new record high of Rs. 24 on the National Stock Exchange after the private sector lender received RBI approval to raise capital from global private equity firms Carlyle Group and Advent International.
PSU bank stocks were also on investors' radar, with UCO Bank soaring 20 percent to hit a new 52-week high on the back of multiple block deals.
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