World News: 05:42 GMT Wednesday 11th September 2019. [Yahoo Business News Feed via SPi World News]
(Bloomberg) -- Indian stocks rose as investors anticipated more government steps to revive consumer sentiment ahead of the festival season that accounts for a bulk of the nation’s sales.The S&P BSE Sensex gained 0.3% to 37,237.17 as of 10 a.m. in Mumbai, advancing for a third day. The NSE Nifty 50 Index also climbed 0.3%. The nation’s financial markets were closed for a holiday on Tuesday.Waning consumption has deepened a slowdown in Asia’s third-largest economy, nudging the government to supplement the efforts of the Reserve Bank of India, which has cut policy rates four times this year in the region’s most aggressive monetary easing.The government’s “full focus” now is to see how growth can rise in the next quarter, Finance Minister Nirmala Sitharaman said Tuesday. The administration is also identifying infrastructure projects it can invest in, she added.Strategist View“If the government announces some more stimulus measures, it will help lift sentiment and clear the path for recovery,” said Sanjay Sinha, founder of Citrus Advisors. “There has been a lot more decline in prices than warranted as the weak sentiment is overpowering.”The NumbersFourteen of 19 sector sub-indexes compiled by BSE Ltd. gained, led by a gauge of metal companies that climbed to a three-week high.Vedanta contributed the most to the Sensex advance, increasing 2.4%. Yes Bank had the largest gain, climbing 5.7% on reports of a stake-sale discussion with Paytm.Both Indiabulls Housing Finance and Indiabulls Real Estate Ltd. advanced 1.1% on a report that Blackstone Group will buy commercial assets.Analyst Notes/Market-Related StoriesWatch This Stock for Signals of India’s Consumption RevivalYearlong Debt Crisis Blocks Plans for Bigger India Bond MarketMillennials, Not Taxes, Get Blame for India’s Falling Auto SalesTo contact the reporter on this story: Nupur Acharya in MUMBAI at email@example.comTo contact the editors responsible for this story: Lianting Tu at firstname.lastname@example.org, Margo TowieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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