“There could be a little bit of softness in terms of growth kicking in over the next six to nine months but having said that, India is a much more domestic growth story. We should comfortably be able to have a growth of 6-7% this year and get back to 7% growth in FY24-FY25.”

The benchmark 10-year government bond yield ended at 7.1077%, lowest since Apr. 27. It had risen five bps in last two sessions, to end at 7.1811% on Monday. The 10-year 7.26% 2032 bond yield ended at 7.0789%, after closing at 7.1354% on Monday.

The Nifty Auto index closed 0.06 per cent up at 13264.15.

The Nifty Bank index closed 0.74 per cent up at 40873.1.

The Nifty IT index closed 0.05 per cent down at 29116.85.

​The 30-share Sensex advanced 455.95 points to end at 60,571.08. Its broader peer, Nifty50, ended at 18,066.80, up 130.45 points. This was the first time since April 4, when the 50-pack index setted above the psychological mark.

The local currency reached 79.0350 around the middle of the session, its highest level since Aug 5. By comparison, the Chinese yuan and the Indonesian rupiah were barely changed.A trader at a Mumbai-based state-run bank said the rupee managing to open above the key 79.40 level was an additional trigger for the USD/INR pair slipping closer to the 79 level.