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Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

SI Reporter/New Delhi 08 Mar 18 | 03:31 PM


Benchmark indices ended higher on Thursday after six sessions of losses, as Asian equities rose on hopes that US President Donald Trump’s plan to introduce hefty tariffs on steel and aluminium imports could exclude certain key partner countries.

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Asian shares outside Japan rose sharply as fears of a global trade war eased after White House signalled that the proposed hefty US tariffs on steel and aluminium imports could exclude Canada, Mexico and a clutch of other countries.

Among sectoral indices, the Nifty PSU Bank index rose over 2% higher today lead by a rise in shares of State Bank of India, Bank of Baroda and Syndicate Bank.

Shares of telecom service providers rose by up to 5% on the Bombay Stock Exchange (BSE) in intra-day deals but later ended flat for the day. The government, on Wednesday, cleared a relief package for the debt-ridden sector, giving more time to operators to pay for the spectrum bought in auctions.

The government has cleared the much-awaited relief measures for the debt-ridden telecom sector, providing operators the option of paying their spectrum instalments in a longer time frame and easing the spectrum holding limits.

(with inputs from Reuters)

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Company Price Gain (%)
Hind. Unilever1,625.001.09
Kotak Mah. Bank1,328.400.62
Sun Pharma.Inds.579.000.47


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