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Indian Shares Seen Higher On Recovery Hopes

(RTTNews) - Indian shares look set to open higher on Tuesday as traders return to their desks after a long holiday weekend.

India's currency, debt and equity markets - Bombay Stock Exchange and National Stock Exchanges - were closed Monday on account of Guru Nanak Jayanti.

Benchmark index Sensex gained 0.61 percent and the Nifty added 0.91 percent last week, helped by positive global cues and optimism about the economic recovery.

Official data released last Friday showed the Indian economy slipped into a technical recessionary phase for the first time ever in Q2, as widely expected.

GDP shrank by 7.5 percent for the second quarter of the current financial year, after having contracted by an unprecedented 23.9 percent in the first quarter.
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