July 3, 2017 / 6:37 AM / 5 months ago

Sensex, Nifty extend gains on GST hopes

(Reuters) - Indian shares ended higher on Monday as consumer goods makers such as ITC Ltd surged on hopes the newly implemented goods and services tax (GST) would reduce retail prices and boost sales.

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 26, 2016. REUTERS/Shailesh Andrade/Files

The broader NSE Nifty closed up 0.99 percent at 9,615, while the benchmark BSE Sensex ended 0.97 percent higher at 31,221.62.

Earlier in the session, both indexes posted their biggest intraday percentage gains since May 25.

ITC shares surged as much as 9.6 percent to hit a record high of 354.8 rupees.

Reporting by Vishal Sridhar in Bengaluru; Editing by Sherry Jacob-Phillips

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