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Sensex Jumps 386 Points On Global Cues; Nifty Ends Above 10,700

Indian shares rallied on Friday and the rupee also recovered from a record low hit in the previous session after China eased restrictions on foreign investment in several sectors and EU leaders struck a deal on immigration, helping investors shrug off trade tensions, albeit temporarily.

Oil prices also steadied amid profit taking after recent strong rally on concerns about trade frictions between the United States and other major economies.

The benchmark BSE Sensex closed higher by 385.84 points or 1.10 percent at
35,423.48, while the broader Nifty index ended up 125.20 points or 1.18 percent at 10,714.30.

Tata Steel, Bajaj Auto, Hindalco, Titan and GAIL climbed 3-6 percent in the Nifty pack, while Mahindra & Mahindra, Hero MotoCorp, IndusInd Bank, Tech Mahindra and Dr Reddy's Laboratories dropped 1-3 percent.

Titan Company shares jumped 4.8 percent after Rakesh Jhunjhunwala reduced his stake in the Tata Group firm.

Reliance Communications advanced 2.6 percent after its tower subsidiary and its minority shareholder HSBC reached a final settlement agreement over sale of tower and fibre asset.

IDBI Bank soared 10.3 percent on reports the LIC has finalized an agreement for infusing Rs 13,000 crore in the bank.

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