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Sensex Up 190 Points In Early Trade; Nifty Rises Above 9,850

Indian shares opened notably higher on Tuesday, with healthy auto sales figures for September as well as firm global cues buoying investor sentiment.

The benchmark BSE Sensex was up 190 points or 0.61 percent at 31,474 in early trade as trading resumed after a long holiday weekend. The broader Nifty index was up 64 points or 0.65 percent at 9,852.

The Reserve Bank of India (RBI) reviews its monetary policy tomorrow, but many expect the central bank to maintain status quo on lending rates, citing risks to inflation.

Tata Motors soared nearly 5 percent on reporting a 25 percent rise in domestic sales in September.

Dr Reddy's Laboratories jumped 1.8 percent after it launched Sevelamer Carbonate tablets in the U.S. markets.

Hero MotoCorp gained 1 percent on saying that it has sold over a million units during the festive season so far.

Bajaj Auto climbed 2 percent and Eicher Motors rose over 1 percent after unveiling their monthly sales figures.

DLF rallied 2.5 percent on receiving shareholder approval for the promoters' decision to sell their entire 40 percent stake in the rental arm for Rs 11,900 crore.

Oil companies BPCL, HPCL and IOC eked out modest gains after hiking jet fuel prices by a steep 6 percent on firming international rates.

Reliance Communications shares plunged as much as 7 percent. The telecom major has called off its merger talks with Aircel, citing 'legal and regulatory' delays. The company's Rs 11,000 crore tower deal with Canada's Brookfield is also under review.

Tata Consultancy Services slid half a percent. The company said it would appeal against a U.S. court in a lawsuit filed by an American firm seeking damages for misuse of its trade documents.

by RTT Staff Writer

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