Sensex, Nifty rise; Reliance Industries, ICICI Bank lead [Reuters]
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Source: Reuters
Sensex, Nifty rise; Reliance Industries, ICICI Bank lead | Reuters 2 Min Read (Reuters) - Indian shares rose on Monday, tracking gains in Asian peers after favourable U.S. jobs data boosted risk appetite, with heavyweights Reliance Industries Ltd and ICICI Bank Ltd driving the indexes higher. The U.S. payrolls report on Friday showed strength in the world’s biggest economy, as it created more jobs than expected in June, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases this year. Asian shares were higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan climbing 1.4 percent. “Confluence of global stability, a sense that the rupee has bottomed and current valuations (of stocks) are holding the market up,” Harendra Kumar, Managing Director at Elara securities said. The broader NSE Nifty was up 0.59 percent at 10,836.10 as of 0620 GMT while the benchmark BSE Sensex rose 0.61 perce
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