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Sensex steady amid hopes of U.S. import tariff exemptions


By Krishna V Kurup

(Reuters) - Indian shares held steady on Thursday after six sessions of losses, as Asian equities rose on hopes that U.S. Donald Trump's plan to introduce hefty tariffs on and aluminium imports could exclude certain key partner countries.

Asian shares outside rose sharply as fears of a global trade war eased after signalled that the proposed hefty U.S. tariffs on and aluminium imports could exclude Canada, and a clutch of other countries.

The broader NSE Nifty was up 0.12 percent at 10,166.50 as of 0518 GMT, while the benchmark BSE Sensex rose 0.15 percent to 33,082.95.

"Markets are relieved that Trump is going to take a far more thoughtful approach towards any sanctions that he puts through," said Sunil Sharma,

Financial shares were among the biggest gainers, with rising 1.4 percent, while rose 1.5 percent.

Private lenders and companies (NBFCs)are gaining as public sector lenders have turned inwards as there is no credit extension at the PSU banks, Sharma said.

Information and also advanced, with the index rising 0.6 percent. was 1 percent higher.

Telecom stocks such as and rose on the Indian government's move to raise the cap on airwaves that a can hold to 35 percent from 25 percent earlier.

Bharti Airtel was 1.6 percent higher, while Idea Cellular edged up 0.06 percent.

The index slipped 1.1 percent after rising as much as 1.6 percent in early trade. dropped 1.9 percent.

Broader Asian shares rose, with MSCI's broadest index of shares outside up 0.9 percent.

(Reporting by Krishna V in Bengaluru; Editing by Amrutha Gayathri)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 11:01 IST