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Nifty reverse gains after a surge :

On Tuesday, Indian equities rose to near three-month highs as gains in banks overcame losses in automakers’ stocks, as investors awaited earnings from heavyweight Bajaj Finance, which are due later in the day.By 9:18 a.m., the NSE Nifty 50 index had risen 0.18 percent to 18,341.40, while the S&P BSE Sensex had risen 0.21 percent to 61,439.85.

The Nifty Bank index rose 0.5 percent, led by a 1% increase in HDFC Bank, India’s largest private lender. After making significant gains in the previous session, auto stocks fell. Component of the Nifty Fifty On Tuesday, Bajaj Finance is expected to release its third-quarter earnings. The shadow lender will also contemplate issuing loans to raise capital. In early trading, the company’s stock was up 1.1 percent.

Software Mahindra’s stock rose as much as 1.4 percent on the announcement of several acquisitions, including the 310 million euro ($353.12 million) purchase of European tech business Com Tec Co IT.



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