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Nifty snaps three-day losing streak, autos drive gains
MUMBAI (Reuters) – The Nifty rose nearly 1 percent on Monday to snap a three-day losing streak after auto stocks such as Mahindra and Mahindra surged on earnings optimism, while strength in global shares on easing tensions in Ukraine also helped.
Mahindra and Mahindra provisionally rose 6.2 percent after its April-June earnings beat estimates on Friday, while Tata Motors ended 3.3 percent higher, ahead of its earnings later in the day.
The broader Nifty provisionally rose 0.76 percent to close above its technically important 50-day moving average at 7,616.74.
(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)