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Indian stock market: Sensex reaches 500 points

Indian Sensex stocks were up more than 500 points today, up for a third day as investors ease concerns about accelerating interest rates. After the Reserve Bank of India indicated that inflation was set to decline.

The S&P BSE Sensex index closed at 58,960.60, up 549.62 points, or 0.94%.

Banking stocks rose to lead the market today.


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