Sensex extends gains, up 103 pts despite weak IIP data

TIL Desk/Business/Mumbai/ The benchmark BSE Sensex extended gains for the third straight day by jumping 103 points today on continuous buying by investors despite disappointing macroeconomic data.

The GST Council on Friday provided some relief to several sectors by slashing tax rates on a host of consumer items — from chewing gums to detergents — to 18 per cent from the current 28 per cent. It also trimmed the list of items in the top 28 per cent tax rate category to just 50.A better trend at other Asian markets brightened mood.

The 30-share barometer, which had gained 95.75 points in the previous two straight sessions, was trading higher by 102.74 points, or 0.30 per cent, at 33,417.30. IT, technology, consumer durables, bank and auto stocks led the gains, rising by up to 0.75 per cent. On similar lines, the NSE Nifty was up by 11.25 points, or 0.10 per cent, at 10,333 points.