Sensex Ends on Higher Note

India's BSE Sensex closed about 0.5% firmer at 50,567.7 after a volatile start on Wednesday, boosted by a rally in metals and consumer shares on hopes for a consumption-driven stimulus from the GST Council meeting. The two-day GST Council meeting began today and is expected to deliberate on rate cuts for several products, as flagged by Prime Minister Modi in his Independence Day address. Market sentiment was also supported by positive economic data and steady foreign inflows. Final data showed that India’s private sector growth was revised slightly lower but still marked the strongest expansion in over 17 years, driven by robust growth in both manufacturing and services. Among the key movers, Tata Steel led the gains, rising 5.9% on a weaker dollar and China’s plan to cut steel output. Titan, M&M, ITC, Eternal, State Bank of India, and Trent were among the other gainers. However, Infosys, NTPC, Hindustan Unilever, TCS, Adani Ports and Bharti Airtel were the biggest laggards.