Sensex rebounds 209 points as GST Council freezes tax rates

ITC, Yes Bank, Axis Bank, Hindustan Unilever, State Bank of India, Tata Motors, Lupin, Cipla were also among the gainers.

Indian share benchmark Sensex hit an all-time high while Nifty regained 9,500-level in intra-day trade on Friday after the Centre and states agreed to keep goods and services tax (GST) rates lower for most goods including daily consumer items, metals and manufacturing goods. Sensex up 45 points at 30,480 and Nifty up 6 points at 9,435. Both the indices recorded their second straight weekly gains by rising 276.77 points, or 0.91 per cent, and 27 points, or 0.28 per cent, respectively. The market breadth continued to remain negative as 1,789 stocks closed lower, 957 finished higher while 165 ruled steady. SBI's standalone net profit, not including contributions from subsidiaries, jumped to Rs. 2,815 crore for the three months to March 31 from Rs. 1,264 crore a year earlier. The BSE IT index was down 0.82 per cent; TS, Infosys, Wipro, Tech Mahindra, HCL Technologies, Hexaware and Tanla Solutions were among the losers.

However, Asian Paints fell 2.43 per cent, Gail India 1.48 per cent, M&M 1.35 per cent, HDFC 1.16 per cent, TCS 1.08 per cent, Power Grid 1.06 per cent, Hero Motoco 0.96 per cent and Dr Reddy's 0.83 per cent.

"Trading members are requested to note that futures and options contracts (F&O) for five underlying securities shall be available for trading in the equity derivatives segment with effect from May 26, 2017", the BSE said in a circular today.




For the week, China's Shanghai Composite index advanced 0.2% while Japan's Nikkei 225 index fell 1.5%. The US Dow Jones Industrial Average ended 0.3% higher on Thursday.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 235.33 crore yesterday, while domestic institutional investors sold shares worth Rs 65.77 crore, according to provisional data released by the stock exchanges.

Companies that will be declaring their Q4 results on Thursday include CESC, Coffee Day Enterprises, Bank of Baroda, IDBI Bank and Tata Coffee.

(Copyright © 2015. All Rights Reserved.)
 
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