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Sensex, Nifty Climb Despite Weak Global Cues On GST Hopes 

Asian equities fell, amid a sharp decline in the pound amid “hard Brexit” talks

An Electronic Ticker Board Indicates the Closing Figures of the BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
An Electronic Ticker Board Indicates the Closing Figures of the BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
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Closing Bell

Indian shares shrugged off weak global cues and climbed higher as investors assessed corporate earnings, while pinning hopes that the deadlock over the GST bill will finally end.

The all-powerful GST Council, headed by Arun Jaitley, is meeting for the ninth time today with the issue of who gets to administer GST being the single biggest issue on agenda. Analysts believe GST would transform India into a single market, boost revenues through better compliance and simpler procedure.

The S&P BSE Sensex gained 0.2 percent to 27,288 while the NSE Nifty gained 0.1 percent to 8,412. This is the 50-share index third straight close above the psychologically important 8,400-mark.

The market breadth was also encouraging with more buyers than sellers. About 939 stocks advanced, 685 declined and 296 remained unchanged.

A gauge of country’s twelve largest banks gained for an eighth consecutive trading session. The Nifty Bank Index has advanced 5.4 percent since January 5, compared to 1.7 percent gain in the broader Nifty index.

Sensex, Nifty Climb Despite Weak Global Cues On GST Hopes 

Dewan Housing Q3 Net Income Rises 32%

Shares of the housing finance company rose 5.2 percent to Rs 284, its eighth session of gains, after reporting its third quarter earnings.

The company’s net income jumped 32 percent to Rs 245 crore for quarter-ended December, compared to Rs 186 crore same period last year.

  • Revenue Rs 2,366 crore versus Rs 1,880 crore
  • Total cost Rs 1,990 crore versus Rs 1,600 crore
  • Firm sanctioned Rs 9,460 crore of loans in Q3; up 2 percent YoY
  • Q3 loan disbursement +10 percent YoY to Rs 7,060 crore
  • Approves fund raising plan via issue of bonds, pref. shares
  • To raise up to Rs 750 crore via pref. share issue; to raise total Rs 6,000 crore via issue of secured, unsecured and subordinate NCDs
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Nifty Bank Gains For Eighth Day

Sensex, Nifty Climb Despite Weak Global Cues On GST Hopes 

European Shares Decline

Sensex, Nifty Climb Despite Weak Global Cues On GST Hopes 
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