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biggest jump in 3 months as U.S. housing data allays concerns

MUMBAI (NewsRise) -- Indian shares jumped the most in about three months, tracking a rally in global equities, after upbeat U.S. housing data allayed concerns over the strength of the economy to withstand a rate hike by the Federal Reserve.

The benchmark BSE Sensex rose 2.28% to 25,881.17 points, its highest level since April 27. Wednesday's gain was biggest single-day percentage advance since March 1. The rally helped the index to move into positive territory this month, with the Sensex now up by 1.1% in May. The broader NSE Nifty50 index advanced 2.4% to 7,934.90 points.

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