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Sensex, Nifty Extend Gains For Fourth Day

Indian shares extended their winning streak for the fourth straight session on Wednesday, tracking positive global cues as talks between the United States and China extended for a third day.

Investors also cheered a World Bank report suggesting that India will retain its position as the fastest growing major economy in 2019-20.

The benchmark 30-share BSE Sensex hit as low as 35,863.29 before recovering to finish the session higher by 231.98 points or 0.64 percent at 36,212.91. The broader Nifty index rose by 53 points or 0.49 percent to 10,855.15.

HDFC, UPL, Tata Motors, ITC and Axis Bank rallied 2-3 percent in the Nifty pack, while UltraTech, Yes Bank, BPCL, GAIL and HPCL tumbled 3-4 percent.

HT Media surged 20 percent and DB Corp jumped 7.4 percent after the Ministry of Information & Broadcasting announced a hike of 25 percent over the existing rate structure for advertisements in print media.

R Systems International soared 11 percent on share buyback news.

Globally, Asian stocks rose across the board and European markets extended gains from the previous session after U.S. President Donald Trump said in a tweet that discussions between the world's two largest economies were "going very well."

Investors are optimistic that a trade deal can be struck ahead of a March 1 deadline established by Trump and Chinese President Xi Jinping last month at the G-20 summit in Argentina.

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