Indian shares rise on recovery hopes, Nifty set for best quarter in 11 years
The Nifty is set to close the quarter around 20 per cent stronger, its best performance since June quarter of 2009.
Indian shares rose on Tuesday, with the benchmark index set for its best quarter since 2009, as upbeat US and China data renewed economic recovery hopes, while investors awaited Prime Minister Narendra Modi's speech later in the day.
The NSE Nifty 50 index rose 0.74 per cent to 10,389.05 by 0351 GMT, while the benchmark S&P BSE Sensex was up 0.6 per cent at 35,172.71.
The Nifty is set to close the quarter around 20 per cent stronger, its best performance since June quarter of 2009, after a liquidity-driven rally from a four year low hit in March.
Tata Steel was the top boost on Nifty, gaining as much as 4.3per cent in early trade.
China's manufacturing sector grew more than expected in June, lifting Asian shares, while strong US housing data boosted Wall Street.
PM Modi will address the nation at 1600 hours local time (1030 GMT) on Tuesday, a day after the government announced a new set of guidelines to further ease restrictions on the lockdown. - Reuters
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