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Sensex rises to 3-week high on policy hopes

Bloomberg Mumbai
India stocks rose for a sixth session, sending the benchmark index to a three-week high, as companies tied to the economy climbed on optimism the government will accelerate policy changes to boost growth.

Housing Development Finance Corp, the country's largest mortgage lender, was the top performer on the S&P BSE Sensex. NTPC and Tata Power rose at least 1.5 per cent, helping a gauge of utilities to a sixth day of gains, the longest stretch since November. Tata Motors climbed for a fourth day.

The BSE Sensex increased 0.6 per cent to 29,320.26, the highest close since January 29 and the Nifty index gained 59.75 points, or 0.7 per cent, to close at 8,869.10. The measure capped its longest run of gains in three weeks on expectations Prime Minister Narendra Modi's government will announce further growth-boosting steps in its first full-year budget this month. Asian and European rose amid speculation Greece and its creditors may be moving toward a compromise. Housing Development jumped 3.2 per cent in a fourth day of gains, the longest run this year. Tata Motors rose 1.8 per cent. NTPC climbed to a three-month high, while Tata Power rose 2.6 per cent. ITC, jumped to a two-month high.
 

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First Published: Feb 18 2015 | 10:40 PM IST

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