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This article is more than 2 year old.

Closing bell: Auto, financial stocks lift indices; Sensex up 277 points, Nifty at 10,948

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Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. Heavyweights ICICI Bank, HDFC and Kotak Bank were the top contributors on the benchmark S&P BSE Sensex index.

Closing bell: Auto, financial stocks lift indices; Sensex up 277 points, Nifty at 10,948
Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. Heavyweights ICICI Bank, HDFC and Kotak Bank were the top contributors on the benchmark S&P BSE Sensex index.
The Sensex ended 277 points higher at 36,977 while the broader Nifty50 index added 86 points to end the day at 10,948.
The near term focus will be on the Reserve Bank of India's (RBI) monetary policy meeting scheduled to announce the outcome on August 7. The market has already priced in 25 basis point cut in interest rate amid lower core consumer price index (CPI) and persistent economic slowdown.
Meanwhile, global stocks extended substantial losses after the United States designated China a currency manipulator and further rattled fragile investor sentiment in a rapid escalation of the US-China trade war.
In broader markets, the Nifty Midcap and Nifty Smallcap indices advanced 2 percent each.
Indiabulls Housing, YES Bank, Tech Mahindra, Bajaj Finance and Bharti Airtel were the top gainers on the Nifty50 index while Zee, Cipla, Reliance Industries, TCS, and PowerGrid led the losses.
All sectoral indices, except IT and Nifty Media, were positive for the day. The Nifty Realty index gained the most, up 1.8 percent, followed by banking and financial indices. Nifty Private Bank and Nifty Financial Services were trading 1.5 percent higher, while Nifty PSU Bank rose 1.4 percent. Nifty Auto and Nifty Bank added over 1 percent each during the day.
Shares of Indiabulls Housing Finance rose over 7 percent ahead of the release of financial results for the quarter ended June 30.
Shares of Dewan Housing Finance (DHFL) rallied 32 percent after the cash-strapped lender said that the special committee has approved the resolution plan to the lenders of the company.
SRF Limited surged 16 percent after the company reported robust numbers in the June quarter earnings. The company has reported a 41.38 percent rise in its consolidated net profit at Rs 189.22 crore in Q1 as against Rs 133.84 crore in the corresponding quarter a year ago.
Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan ended down 0.75 percent after brushing its lowest since January. It has lost 3.7 percent so far this week. The Shanghai Composite Index retreated 1.4 percent, while Japan’s Nikkei shed 0.7 percent, Australian stocks fell 2.3 percent and South Korea’s KOSPI slid 0.9 percent.
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