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Sensex Soars 465 Points On Rate Cut Hopes; Nifty Ends At 10,887

Indian shares rallied on Tuesday to snap a three-day losing streak as tepid retail inflation data fueled hopes of monetary easing.

Retail inflation slowed to 2.19 percent in December from 2.33 percent in November and 5.21 percent in December 2017, mainly on account of sliding prices of fruits, vegetables and fuel, official data showed.

Positive global cues also underpinned investor sentiment. Markets across Asia and Europe moved higher after Citigroup earnings beat Street views and China pledged to keep monetary policy stable to support growth.

Chinese finance ministry said that it would implement larger tax and fee cuts to help reduce burdens for small firms and manufacturers.

Separately, Chinese central bank said that it would stick with its prudent monetary policy to stabilize a slowing economy.

Closer home, the benchmark 30-share BSE Sensex jumped 464.77 points or 1.30 percent to 36,318.33, while the broader Nifty index ended up 149.20 points or 1.39 percent at 10,886.80.

Wipro soared 5.5 percent ahead of a board meet on January 18 to consider a bonus issue.

Rivals TCS, Infosys and Tech Mahindra jumped 3-4 percent while market heavyweight Reliance Industries advanced 3.1 percent.

Yes Bank rallied 4.1 percent after reports that Deutsche Bank's Ravneet Gill is leading the race for CEO post at the bank.

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