India's Nifty breaches 11,000 mark, Sensex climbs above 36,000 for first time

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India shares ended at fresh record highs on Tuesday, driven by sustained overseas inflows after positive earnings and the government's efforts to contain fiscal deficit target.

Risk appetite got a lift after an International Monetary Fund report showed India was set to regain the title as the world's fastest growing major economy in 2018-19.

At 0610 GMT, the S&P BSE Sensex added 0.61 percent at 36,016 while the broader NSE Nifty advanced 0.69 percent to 11,042.

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Among the top Sensex gainers, Tata Steel rose 3.8 percent, Coal India gained 2.9 percent, ICICI Bank added 2.8 percent while State Bank of India was up 4 percent.

Hathway Cable & Datacom climbed 8 percent after a block deal. Around 3 million shares of the company changed hands in 2 block deals, Bloomberg reported.

Kalpataru Power Transmission advanced 6 percent after the company said it won order worth Rs871 crore.

But Rallis India lost 7 percent after the company posted 24 percent decline in its net profit for the quarter ended December 31.

Market breadth was in the favor of gainers, with about 2 stocks advancing to every 1 stock that declined.

Meanwhile, Asian shares advanced, in line with global equity markets following a deal to end a U.S. government shutdown.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 percent to a fresh record peak. Australian stocks climbed 0.7 percent and South Korea's KOSPI added 1 percent. Japan's Nikkei was 1.1 percent higher, Reuters data showed.

This article was first published on January 23, 2018