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Sensex, Nifty Rally On Global Cues; IT Stocks Lead Gains
(RTTNews) - Indian shares opened sharply higher on Friday, mirroring positive global cues as weak U.S. inflation data raised hopes of Fed easing and a soft landing for the world's largest economy.
The benchmark S&P BSE Sensex climbed 992 points, or 1.6 percent, to 61,606 in early trade, while the broader NSE Nifty index was up 281 points, or 1.6 percent, at 18,310.
IT stocks led the surge, with Wipro, Tech Mahindra, HCL Technologies and Infosys all rising around 4 percent.
Future Retail jumped almost 5 percent on reports that Reliance and Adani are in the race to buy its assets.
Zomato soared 10 percent after narrowing its Q2 net loss.
Eicher Motors fell 2.4 percent despite reporting a 76 percent jump in quarterly profit.
Adani Green Energy rallied 2.2 percent as it logged a 49 percent rise in its Q2 consolidated net profit.
Bata India declined 1.7 percent despite reporting a 47 percent rise in Q2 profit.
Reliance Power dropped 1.2 percent after widening its Q2 loss.
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