India Sensex Extends Gain to Record High; Cement Stocks Surge
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Indian stocks extended gains for a third day as investors viewed equities will benefit from government policies and earnings-growth prospects.
The S&P BSE Sensex rose 0.3 percent to 36,825.10, a fresh record, in Mumbai. Cement stocks rallied after ACC Ltd.’s second quarter net income beat estimates. Daiwa Capital Markets boosted exposure to Indian stocks citing solid earnings growth, accommodating policies and encouraging domestic demand. Hero MotoCorp Ltd. fell the most on concern profit margins may narrow. Investors are also awaiting the expiry of July futures and options contracts on Thursday.