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Sensex Soars 255 Points; Nifty Ends Above 9650
19 June 2017, 06:28 | Kelvin Horton
Banks and financial stocks are likely to be in focus on Monday
The markets saw a flurry of buying as investors sensed NPA resolution gaining traction after the Reserve Bank asked lenders to initiate bankruptcy proceedings against large defaulters.
Mumbai: The Sensex made a good start today latching onto the progress made on the GST front by bouncing over 146 points and the NSENifty retook 9,600 amid a rising trend in Asia.
Globally, all eyes are on political events in Europe as negotiations by UK Brexit Secretary David Davis with European Union will begin soon and French President Emmanuel Macron secured a majority in the parliamentary election over the weekend.
"The Market is back to the buoyed sentiment due to relaxation in return filing timeline to minimize the impact of transition to GST". BSE Small-cap index closed lower by 0.08 points at 15653 level.
The 30-share BSE Sensex was up 255.17 points at 31,311.57 and the 50-share NSE Nifty rose 69.50 points to 9,657.55, aided by banking & financials, metals, FMCG stocks and Reliance Industries.
The gauge had lost 99.51 points in the previous two sessions.
Risk-on improved after the GST Council on Sunday relaxed return filing rules for businesses for the first two months of the tax rollout even as it stuck to the July 1 launch date.
On the other hand, Infosys (1.17%), Sun Pharmaceutical Industries (0.77%), Dr Reddy'S Laboratories (0.76%), Coal India (0.59%), Oil & Natural Gas Corporation (0.48%), and Tata Motors (0.33%) were the biggest losers in the Sensex. China's Shanghai Composite was too up by 0.44 per cent. Broader market indices performed in line with the major indices but slipped in the red zone at the closing bell.
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Open's final round as heavy winds pummeled the links-style layout, adding an intriguing wrinkle to the year's second major. Rickie Fowler accomplished the feat in the first round, and Hideki Matsuyama and Chez Reavie hit the number Thursday.
79 now believed to have died in London high-rise fire
The fire at the 24-story building has led to community anger and protests over the British government's response. Investigators are now trying to establish the cause of the fire and how it spread so quickly through the block.
Brexit Minister: No Doubt Britain Leaving EU
However, it seems unlikely he will be able to resist public comment on the Brexit process, which he has described as a "tragedy". May's letter triggering the so called Article 50 exit procedure is still the most detailed document on the UK's intention.