Expected tax relief buoys Sensex, capital goods stocks’ rise

Mumbai: Expectations of further relief measures from the government in the form of tax cuts, along with hopes of healthy quarterly results, buoyed the key Indian equity indices higher during the early-morning trade session on Wednesday.

Domestically, healthy buying was observed in capital goods, oil and gas and FMCG stocks, whereas scrip of automobile companies came under heavy selling pressure.

At around 9.25 a.m., the S&P BSE Sensex traded at 39,959.94, higher by 128.10 points or 0.32 per cent from the previous close of 39,831.84.

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It had opened at 40,055.63 and has so far touched an intra-day high of 40,100.26 and a low of 39,920.67.

Similarly, the Nifty50 of the National Stock Exchange traded at 11,821.10, higher by 34.25 points or 0.29 per cent from its previous close.

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