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Sensex Soars 453 Points; Nifty Nears 11,600

Indian shares posted strong gains on Thursday, with benchmark indexes Sensex and Nifty surging for a fifth straight session, after the U.K. and EU announced that they have agreed on a deal for Britain's exit from the EU.

EU Commission President Jean-Claude Juncker said in a letter that member nations should back the Brexit deal and that the 27 member states are "best served by an orderly and amicable withdrawal of the United Kingdom from our Union."

Earnings optimism, easing of concerns about the financial sector and expectations that the government would provide more stimulus also boosted markets.

The benchmark S&P BSE Sensex surged 453.07 points, or 1.17 percent, to 39,052.06 while the broader NSE Nifty index rose by 122.35 points, or 1.07 percent, to 11,586.35.

Yes Bank shares jumped as much as 15.5 percent amid reports that industrialists Sunil Mittal and Sunil Munjal have shown interest in acquiring a stake in the private sector lender.

Tata Motors, the owner of UK-based JLR, soared 13.3 percent after Britain and European Union reached a new Brexit deal.

Bajaj Auto, IndusInd Bank and Eicher Motor climbed 4-8 percent.

Federal Bank rallied 2.3 percent after foreign brokerage houses maintained buy rating on the stock.

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