Sensex rises by more than 300 points, Nifty rises above 17,800; IT stocks are the top gainers;

 In anticipation of U.S. inflation data later in the day, Indian shares opened higher on Tuesday, tracking gains in global equities. However, the advance was tempered by concerns about potential rate increases after domestic retail inflation in January exceeded the Reserve Bank of India's upper limit. 

Investors anticipated a slowing of the consumer price index (CPI) data for January, which is why Wall Street stocks ended the day higher on Monday. According to a Reuters poll of economists, the CPI in the United States is predicted to increase by 0.5% from one month to the next in January. 

The largest MSCI index of Asia-Pacific shares ex-Japan rose 0.44%, signalling an improvement in Asian markets. 

With UPL, Infosys, HCL Technologies, and Tata Consultancy Services among the biggest gainers, 28 of the Nifty 50 components saw their shares rise.

Similar to the increases seen overnight in the tech-heavy Nasdaq Composite index, the high weight information technology index increased by almost 1.5%. The decision was motivated by hopes of reducing inflation in the United States, where software exporters from India receive a large portion of their income. 

Analysts claimed that with the most recent drop, investors now perceive the sector's values to be appealing. Comparatively speaking to the manufacturing or banking industries, IT is less rate sensitive, they continued. 

Many Nifty 50 firms, including Adani Enterprises, Apollo Hospitals, Eicher Motors, Grasim Industries, and ONGC, are expected to report third-quarter profits in the near future. 

The increase in domestic stocks' gains was restrained by the rise in retail inflation in January, which reached 6.52%, above the upper bound of the RBI's target range of 2-6%. Economists raised a red flag

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