Sensex, Nifty Extend Gains For Sixth Day On GST Optimism
(RTTNews) - Indian shares extended gains for a sixth day running on Thursday as investors continued to remain optimistic about S&P's rating upgrade for India, improving Sino-India relations and the Centre's plan to rationalize Goods and Services Tax (GST).
In a key meeting held today, the panel of state ministers accepted the Centre's plan to reduce the four-rate system to two main slabs of 5 percent and 18 percent.
That said, the upside was capped by mixed global cues ahead of the Federal Reserve's annual symposium at Jackson Hole, Wyoming, from August 21 to August 23, where Fed Chairman Jerome Powell is due to speak.
The benchmark BSE Sensex rose 142.87 points, or 0.17 percent, to 82,000.71, extending gains for a sixth day running and notching the longest winning streak in over two months.
Likewise, the broader NSE Nifty index closed up 33.20 points, or 0.13 percent, at 25,083.75, led by gains in the financial sector. The BSE mid-cap index slipped 0.1 percent while the small-cap index ended little changed.
The market breadth was strong on the BSE, with 2,097 shares rising while 1,990 shares declined and 161 shares closed unchanged.
Among the top gainers, Larsen & Toubro, Reliance Industries, Bajaj Finance, ICICI Bank and Bajaj FinServ all rose around 1 percent.
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