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Sensex hits record high as consumer stocks surge


By Arnab PaulREUTERS - The benchmark BSE index rose as much as 0.9 percent to a record high on Friday, scaling an all-time peak for the fourth time in five sessions, as consumer goods makers surged after the government finalised rates for its upcoming goods and services tax (GST).India set GST rates for more than 1,200 items on Thursday, and analysts said the outcome had largely benefited the fast-moving consumer goods sector after rates for products like hair oil, soaps and toothpaste were brought down to 18 percent from 22-24 percent.The Nifty FMCG index surged as much as 4.4 percent to a ...

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First Published: Fri, May 19 2017. 12:12 IST