Sensex Rallies Further On GST Hopes

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Expectations that the GST would be passed in the Monsoon session of parliament led to a further rally in stocks. The Sensex was trading with gains of 10 points, while the Nifty was up 3 points in trade.

Sensex Rallies Further On GST Hopes
However, negative Asian cues, acted as a dampener for a further rally in stocks. Overnight closings across the US markets were also weak, which pushed Asian markets lower.

The Japanese Nikkei, the Korean Kospi and the Hang Sang were among the losers in trade. Shares in government banking stocks were once again having a solid session. Among the major gainers in trade were Andhra Bank, Allahabad Bank and Syndicate Bank.

Canara Bank, which saw its profits halve also continued to see buying interest. Shares in KG Denim rallied 10 per cent, after profits multiplied several fold at the company.

Shares in Himalya International saw Q1 net loss at Rs 0.4 crore versus loss of Rs 3.5 crore, pushing the share price up by a whoppping 7 per cent. 

Meanwhile, the rupee was trading at 67.40 to the US dollar.

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