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Indian shares rise -

June 24, 2022 00:00:00

BENGALURU, June 23 (Reuters): Indian shares bucked a broader downturn on Thursday as weak metal and oil prices drove beaten-down automakers to their best day since April 2020.

The NSE Nifty 50 index rose 0.93 per cent to 15,556.65, while the S&P BSE Sensex climbed 0.86 per cent to 52,265.72.

The indexes have added around 1.7 per cent so far this week, after two consecutive weeks of decline fuelled by concerns over interest rate hikes and growth.

Aiding sentiment on Thursday was a further retreat in crude prices as investors assessed recession risks and the impact of higher rates on fuel demand. Cheaper oil tends to benefit oil-importing countries like India.

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