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Sensex, Nifty Extend Gains On Hopes Of Tax Surcharge Rollback

Indian shares opened higher on Friday to extend strong gains from the previous session, with a stabilization in global bond yields and reports that the government may exempt foreign portfolio investors from additional surcharge boosting investor sentiment.

The benchmark S&P BSE Sensex climbed 232 points or 0.62 percent to 37,560 while the broader NSE Nifty index was up 72 points or 0.65 percent at 11,104.

Indiabulls Housing Finance shares soared as much as 8 percent while JSW Steel, Grasim Industries, UltraTech Cement and UPL all rose over 2 percent.

Automakers were pacing the declines, with Tata Motors and Mahindra & Mahindra falling more than 1 percent each.

Yes Bank edged down slightly on fund raising reports.

SpiceJet rose over 1 percent ahead of its June quarter results due today.

Sundram Fasteners edged up half a percent despite reporting a 13 percent drop in quarterly profit.

DHFL soared 8.5 percent even as it warned of delays in debt repayments.

Coffee Day Enterprises tumbled 5 percent on a report it may sell the group's 90-acre technology park in Bengaluru to reduce debt.

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