BENGALURU, Aug 26 (Reuters) – Indian shares rose for a fourth straight session on Wednesday, led by banking and automotive stocks after the nation’s finance minister stated decreasing taxes on some sorts of autos was a “good suggestion”.
The NSE Nifty 50 index .NSEI was up 0.27% at 11,503.15 by 0400 GMT, whereas the S&P BSE Sensex .BSESN was 0.25% larger at 38,937.13.
All 12 main sectoral indexes had been larger and the Nifty autos index .NIFTYAUTO rose probably the most with a 1.6% climb. Hero Moto Corp HROM.NS rose 3.6%, whereas Bajaj Auto BAJA.NS climbed 2.9%.
Indian Finance Minister Nirmala Sitharaman, talking to business executives at a digital briefing, stated so-called two-wheeler autos merited a charge revision, in response to a query about reducing items and providers tax charges on these autos, the Confederation of Indian Business stated on Tuesday.
(Reporting by Sachin Ravikumar; Modifying by Subhranshu Sahu)
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