MUMBAI, Dec 22 (Reuters): The BSE Sensex and Nifty rose more than 1 per
cent on Monday to mark a third consecutive day of gains as buying by
insurers supported blue-chips such as HDFC Bank, while higher Asian
shares and hopes of progress on key reforms underpinned the broader
market.
Prime Minister Narendra Modi may consider using an executive order to push through laws overhauling the insurance and coal sectors, if the increasingly fractious parliament fails to pass them soon, two government officials said on last Friday.
Still, investors bought into defensive shares such as ITC Ltd in a reflection of concern in markets about volatility until the end of the year, with foreign investors selling nearly $1 billion in stocks over nine consecutive sessions.
The BSE Sensex rose 1.21 per cent to end at 27,701.79, and the Nifty gained 1.2 per cent to close at 8,324, marking their highest close since December 10.
Prime Minister Narendra Modi may consider using an executive order to push through laws overhauling the insurance and coal sectors, if the increasingly fractious parliament fails to pass them soon, two government officials said on last Friday.
Still, investors bought into defensive shares such as ITC Ltd in a reflection of concern in markets about volatility until the end of the year, with foreign investors selling nearly $1 billion in stocks over nine consecutive sessions.
The BSE Sensex rose 1.21 per cent to end at 27,701.79, and the Nifty gained 1.2 per cent to close at 8,324, marking their highest close since December 10.
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