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India's stock markets rally from one-year lows on hopes for tax reform

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Reuters MUMBAI
Last Updated : Aug 25 2015 | 2:07 PM IST

MUMBAI (Reuters) - India's stock markets bounced back on Tuesday from their lowest levels in around a year after the government said it was considering reconvening parliament to make another attempt to pass the goods and services tax (GST).

Parliament failed to pass the GST bill earlier this month after it fell victim to an impasse over allegations of impropriety against Prime Minister Narendra Modi's cabinet and party colleagues.

The broader Nifty was up 0.91 percent at 1348 India time (0818 GMT) in a volatile trading session after earlier falling as much as 1.8 percent to its lowest since Aug. 12, 2014.

The benchmark BSE Sensex was up 0.97 percent after earlier falling as much as 1.7 percent to its lowest since Aug. 8, 2014.

(Reporting by Karen Rebelo; Editing by Rafael Nam)

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First Published: Aug 25 2015 | 1:56 PM IST

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