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India Stocks Gain as Tax Cut, Consumer Demand to Aid Companies

Oct. 9, 2019, 11:23 AM

India stocks surged on optimism that a pick-up in consumer demand during the festive season combined with a lower corporate tax will help improve company profits in coming quarters.

In contrast, the July-September earnings reports starting Thursday are set to be tepid, analysts say. Business will have been hurt by economic growth at its slowest pace in six years and lingering concerns over the health of shadow lenders.

The S&P BSE Sensex climbed 1.7% to 38,177.95, snapping six sessions of declines, the longest losing streak for the gauge since July, data compiled by Bloomberg show. The NSE Nifty 50...

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