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Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates

All that happened in today's trade

SI Reporter  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse

Vinod Nair, Head of Research, Geojit Financial Services    The outcome from GST council will decide the trajectory of some sectors like Consumer durables, Auto ancillaries, Infra and building products. Whereas, weaknesses in global market and rising oil prices may push investors to turn conservative on the board market. Sectoral trend  Source: NSE Sensex heatmap at close Source: BSE   Markets at close   The S&P BSE Sensex ended at 33,314, up 63 points, while the broader Nifty50 was ruling at 10,321, up 12 points. Top five gainers on Nifty Source: NSE Markets check    At 3:05 pm, the S&P Sensex was trading at 33,231, down 19 points, while the broader Nifty50 was ruling at 10,294, down 14 points. 

The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6% post its September quarter numbers. Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight and Tata Motors slipped after the auto major said its British unit faced intensifying competition. 

Investors also took cues from the Goods & Services Tax (GST) Council meeting. The Council decided to trim the 28% slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the implementation on July 1. 

Meanwhile, the Index of Industrial Production (IIP) will also be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.

First Published: Fri, November 10 2017. 15:38 IST
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Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates

All that happened in today's trade

All that happened in today's trade
The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6% post its September quarter numbers. Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight and Tata Motors slipped after the auto major said its British unit faced intensifying competition. 

Investors also took cues from the Goods & Services Tax (GST) Council meeting. The Council decided to trim the 28% slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the implementation on July 1. 

Meanwhile, the Index of Industrial Production (IIP) will also be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.

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Business Standard
177 22

Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates

All that happened in today's trade

The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6% post its September quarter numbers. Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight and Tata Motors slipped after the auto major said its British unit faced intensifying competition. 

Investors also took cues from the Goods & Services Tax (GST) Council meeting. The Council decided to trim the 28% slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the implementation on July 1. 

Meanwhile, the Index of Industrial Production (IIP) will also be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.

image
Business Standard
177 22