By Reuters
India鈥檚 equity benchmarks rose for a sixth straight session on Thursday, boosted by financial shares that jumped on a proposal to exempt insurance from tax.
The Nifty 50 advanced 0.13% to 25,083.75 and the BSE Sensex gained 0.17% to 82,000.71.
Reliance, the third-heaviest stock on the Nifty, climbed 0.8% after J.P.Morgan cited attractive valuations and multiple growth drivers to maintain 鈥渙verweight鈥 rating.
Shares have been rising on India鈥檚 goods and services tax (GST) reform plans and S&P鈥檚 sovereign rating upgrade. The Nifty advanced 2.4% and the Sensex added 2.2% in six sessions.
On the day, the broader small-caps closed flat while mid-caps fell 0.4%.
Eight of the 16 major sectors gained.
Financials rose 0.3%, led by ICICI Prudential Life and SBI Life, after a state ministers鈥 panel proposed GST exemptions on individual health and life insurance premiums to spur demand.
The panel also endorsed a new two-slab GST structure, pending approval from the GST Council.
Indian benchmark shares