Indian shares gain after U.S. Senate approves 'fiscal cliff' deal
MUMBAI Jan 1 (Reuters) - Indian shares rose on Tuesday, after the U.S. averted the looming 'fiscal cliff' in a last-minute deal, with hopes of a rate cut by the Reserve Bank of India beginning to gather steam, leading to gains in bank shares.
ICICI Bank provisionally rose 1.9 percent, while State Bank of India ended 1.7 percent higher.
The BSE index provisionally gained 0.79 percent, while the 50-share NSE index ended up 0.77 percent.
Most major global markets were closed for the New Year holiday. (Reporting by Abhishek Vishnoi)
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The finance ministry is increasingly optimistic that it can meet a tough fiscal deficit target, helped by a 12 percent decline in global crude oil prices since Prime Minister Narendra Modi took charge in May. Full Article