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Sensex, Nifty End Higher For Seventh Day

Indian shares rose for a seventh straight session on Tuesday, with IT firms leading the surge.

The benchmark 30-share BSE Sensex climbed 268.40 points or 0.70 percent to 38,363.47, underpinned by capital inflows in the light of expectations of PM Narendra Modi's re-election and another RBI rate cut. The broader Nifty index ended up 70.20 points or 0.61 percent at 11,532.40.

The Sensex matched its longest stretch of gains since December while the Nifty index ended above 11,500 for the first time since September 14, 2018.

Global brokerage Goldman Sachs upgraded its view on India to "overweight" and placed a 12-month target of 12,500 for the Nifty, citing better Q3 earnings and pick-up in FII flows.

ITC, Reliance Industries, Infosys, Infratel and HCL Technologies jumped 2-3 percent while Maruti Suzuki, Larsen & Toubro, Hero MotoCorp, JSW Steel and Eicher Motors dropped 1-3 percent.

Reliance Communications soared 10 percent after it terminated an agreement for sale of telecom assets with Reliance Jio.

Group companies Reliance Power, Reliance Infrastructure, Reliance Capital and Reliance Naval surged 1-5 percent after Mukesh Ambani saved his younger brother Anil from imprisonment by paying money owed by him to Ericsson.

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