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Sensex snaps 9-day long losing streak

IANS  |  Mumbai 

The Sensex snapped its nine-day long losing streak on Tuesday to end 227.71 points higher. Except for IT, stocks of all other sectors ended in the green.

Lower prices of manufactured items and key eased India's annual rate of inflation based on wholesale prices to 3.07 per cent in April from 3.18 per cent in March, which helped sooth investors sentiments.

Scrips of closed over 7.42 per cent lower after the resignation of the beleaguered airline's

"Short covering was seen in beaten down indices like banks and pharma while IT continues to under-perform due to strength of the rupee," said Vinod Nair, Head of Research,

"Investors are not very aggressive in the market as every rally will be used as an opportunity to book profit and remain watchful on quarterly earnings and the election verdict," he added.

The jumped over 227.71 points, or 0.61 per cent, to 37,318.53 and the Nifty gained 73.85 points, or 0.66 per cent, at 11,222.05.

"Asian shares started with losses on Tuesday amid a fresh deterioration in the Sino-US tariff war, although comments from US that he expected trade negotiations to be successful helped stabilise sentiments," said of

--IANS

ravi/bc

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 14 2019. 18:16 IST
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