Indian shares rise for third session; Tata Motors surges

Lloyd Doyle
October 3, 2017

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,537.81 points, traded at 31,552.34 points - up 268.62 points, or 0.86 per cent.

"Top gainers on the NSE were Tata Motors, Gail and Bajaj Auto, while on the losing side were Power Grid, Maruti Suzuki and State Bank of India", he added.

Indian shares jumped on Tuesday, tracking gains in Asia after record gains on Wall Street, amidst hopes of global growth recovery.

The benchmark BSE Sensex surged almost 300 points in the opening trade on Tuesday as Finance Minister Arun Jaitley had on Sunday indicated that the government would consider reducing the goods and services tax slabs and easing compliance burden for small taxpayers once revenues from GST better those from the previous tax regime.

The rupee, however, fell sharply by 32 paise to 65.60 against the dollar in opening trade today as the greenback took on more strength overseas.

"Benchmark indices traded higher with the Nifty50 trading near 9,850 ahead of the Reserve Bank of India's policy review that kicks off later in the day". Auto, metal, consumer durables and realty stocks hit a sweet spot.

As SBI Life insurance got listed on the bourses and debuted the market on Tuesday at the issue price of Rs 700.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) also made gains. About 1,433 shares advanced against 1,277 declining shares on the BSE.

Other gainers that supported the key indices include Asian Paints, Tata Steel, Dr Reddy's, Reliance Industries, NTPC, ONGC and Infosys.

Other reports by Iphone Fresh

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