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Sensex Ends Up 222 Points; Nifty Closes At 9,980

Indian shares rose sharply on Friday as Tata Steel unveiled strong quarterly production figures and investors waited for the outcome of a GST Council meeting later in the day. It is widely expected that the Centre will push through a raft of relief measures for small and medium enterprises.

The benchmark 30-share BSE Sensex rose by 222 points or 0.70 percent to 31,814 while the 50-share Nifty index finished up as much as 91 points or 0.92 percent at 9,980.

Bajaj Finance, Sun Pharma, Hindalco, Tata Steel and GAIL climbed 3-6 percent to lead the surge in the Nifty pack. On the flip side, Hero MotoCorp and Infratel fell over 1 percent each.

Granules India soared 6.1 percent on receiving the establishment inspection report from the U.S. FDA for its Granules OmniChem facility in Vizag, Andhra Pradesh.

Future Retail rallied 1.8 percent after it agreed to acquire Shoppers Stop's loss-making retail chain HyperCity for Rs 655 crore. Shoppers Stop shares jumped 1.5 percent while Future Consumer advanced 2.1 percent.

Elsewhere, Asian markets closed mostly higher, tracking overnight gains on Wall Street after Congress passed a $4.1 trillion budget resolution and data on jobless claims, factory orders and trade balance pointed to underlying strength in the economy.

European stocks were mixed as investors fretted over political risks in Spain and the U.K. and awaited the release of U.S. jobs report later in the day.

by RTT Staff Writer

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