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Sensex, Nifty Snap Nine-day Losing Streak

Indian shares rose notably on Tuesday to snap a nine-day losing streak after both the U.S. and China struck a conciliatory tone on trade talks.

Tepid wholesale and retail inflation data also helped underpin investor sentiment.

The benchmark BSE Sensex ended the session up 227.71 points or 0.61 percent at 37,318.53 while the broader Nifty index rose by 73.85 points or 0.66 percent to 11,222.05.

GAIL, Vedanta, Sun Pharma, Bharti Airtel and Indiabulls Housing Finance jumped 4-6 percent in the Nifty pack, while IT stocks such as Wipro, HCL Technologies, TCS and Tech Mahindra dropped 1-3 percent amid intraday recovery in the rupee.

Siemens jumped 4.5 percent after its quarterly profit jumped 28 percent.

Delta Corp soared 8.6 percent after clarifying it complies with GST laws and hasn't evaded any GST.

Jet Airways slumped 7.3 percent as lenders reach out to unsolicited bidders for the grounded airline.

Globally, Asian stocks ended mostly lower after China announced tariffs on about $60 billion worth of U.S. goods in retaliation for the U.S. decision to raise tariffs on about $200 billion worth of Chinese imports.

The office of U.S. Trade Representative is taking necessary steps to raise duties of up to 25 percent on a further $300 billion worth of imports from China, with a public hearing likely on June 17, followed by at least a week of discussions, leading up to the G-20 summit.

European markets, however, were trading higher after U.S. President Donald Trump said that he was optimistic about resolving the U.S. trade dispute with China.

"He just got back from China. We'll let you know in about three or four weeks whether or not it was successful ... but I have a feeling it's going to be very successful," Trump said, referring to U.S. Treasury Secretary Steven Mnuchin's recent trade talks in Beijing.

Chinese government's top diplomat, State Councillor Wang Yi, also struck a more upbeat tone, noting there was still hope to resolve the issue in a friendly way.

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