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)
- Tweet this
- Share this
- Digg this
- UPDATE 9-Total CEO de Margerie killed in Moscow as jet hits snow plough
- Total CEO de Margerie killed in Moscow business jet accident
- Pistorius jailed for 5 years for killing girlfriend Steenkamp
- Indiana police charge suspect who may have killed for decades
- China's growth slowest since global crisis, annual target at risk
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article