Sensex rises by 254.55 pts on optimism about possible roll-back of hike in FPI surcharge tax

Sensex rises by 254.55 pts on optimism about possible roll-back of hike in FPI surcharge tax

Mumbai, The benchmark index of Bombay Stock Exchange (BSE) rose by 254.55 points for the second consecutive session on Friday to end positive at 37,581.91 on brisk buying in Auto, Consumer Durables, Realty, Bankex and FMCG stocks amid optimism that the central government may roll-back hike in foreign portfolio investors (FPI) surcharge tax and announce more market-friendly measures to boost liquidity in the system to prop up demand.

The Nifty of National Stock Exchange (NSE) too edged up by 77.20 points to 11,109.65. The Sensex registered day's high and low at 37,805.55 and 37,406.20 points, respectively, during the day . The Nifty recorded day's high and low at 11,181.45 and 11,062.80 points, respectively. The broader markets outperformed the Sensex, as the BSE Mid-Cap index and Small-Cap rose by 0.77 per cent and 1 pc , respectively. The market breadth was positive on BSE, as 1,536 shares gained while 966 fell and 154 were unchanged. Overseas, the European stocks were trading lower while most Asian stocks ended higher Friday supported by overnight gains in US stocks and better-than-expected macro-economic data from China, but fresh concerns about Sino-US trade ties capped gains in the region. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.2 per cent higher, but on track to lose 2.3 per cent for the week. Japan's Nikkei average gained 0.4 per cent, while Australian stocks added 0.3 per cent and South Korean shares climbed 1.1 pc. The benchmark Shanghai Composite and the blue-chip CSI-300 were down 0.8 pc and 1.0 pc, respectively, while Hong Kong's Hang Seng eased 0.2 pc. On Wall Street, the S&P-500 surged 1.9 per cent on Thursday -- its largest one-day gain in about two months, while the Dow and the Nasdaq also advanced well more than 1 pc each.


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