Trading for the September month started on a positive note as key benchmark indices settled with modest gains as domestic data showing Q1 June 2017 gross domestic product falling to a three-year low raised expectations that the central bank may cut rates to perk up growth. The barometer index, the S&P BSE Sensex rose 161.74 points or 0.51% to settle at 31,892.23. The Nifty 50 gained 56.50 points or 0.57% to settle at 9,974.40. The Sensex and the Nifty, both, hit their highest closing level in more than three weeks. Firmness in global stocks and private data showing rebound in India’s manufacturing activity in August also boosted sentiment. Indices gained for the third day in a row. On the macro front, Markit Economics will unveil the result of a monthly survey on the performance of India’s services sector in August 2017 on Tuesday, 5 September 2017.
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