Sensex, Nifty End Slightly Higher Amid Budget Optimism

Indian shares closed higher on Tuesday as traders returned to their desks after a long holiday weekend.

The upside was capped as investors awaited more U.S. economic data and Federal Reserve officials’ speeches this week for additional clues on the Fed’s rate trajectory.

The benchmark S&P/BSE Sensex rose 308.37 points, or 0.40 percent, to 77,301.14 – extending gains for a fourth straight session on the back of firm global cues and expectations that the government is considering income tax rate cuts in the upcoming Budget.

The broader NSE Nifty index closed at 23,557.90, up 92.30 points, or 0.39 percent, from its previous close.

Titan Company, ICICI Bank, Wipro, Power Grid Corp and Shriram Finance rallied 2-3 percent in the Nifty pack, while Hindalco, Tata Steel, UltraTech, Dr Reddy’s Laboratories and Maruti Suzuki India fell 1-2 percent.

Hindustan Aeronautics soared 6.3 percent on news that the Ministry of Défense has issued a request for procurement of 156 Light Combat Helicopter.

Wipro rallied 2.9 percent on bagging a multi-million-dollar deal from Standard Chartered.

Zomato rose 1.4 percent on reports it is in talks to buy Paytm’s movies and ticketing business.

GMR Airports climbed 4.2 percent after a positive business update.

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