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Sensex, Nifty Follow Global Peers Higher

Indian shares opened on a positive note Tuesday, with a rebound in global markets and encouraging manufacturing data from China helping underpin investor sentiment.

The benchmark S&P BSE Sensex rose by 342 points, or 1.2 percent, to 28,782 in early trade, while the broader NSE Nifty index was up 90 points, or 1.1 percent, at 8,372.

BPCL, JSW Steel, Tata Steel, Vedanta and Hindalco jumped 3-6 percent while IndusInd Bank fell as much as 10 percent and Bajaj Finance lost 3 percent.

Suzlon Energy rallied 2.6 percent after lenders cleared a debt resolution plan for the company.

Banks traded mostly higher. The RBI announced that the scheme of merging ten public sector banks into four bigger lenders is on schedule and will come into force from 1 April despite the country-wide coronavirus lockdown.

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