Market falls on fiscal deficit concerns

The Indian market fell nearly one per cent on Monday as rising global crude oil prices and rate cuts in goods and services tax (GST) on several items stoked fears of a widening fiscal deficit. The Sensex fell 0.84 per cent, or 281 points to 33,034 with banking and energy stocks leading the fall. The rupee declined 0.40 per cent to Rs 65.43 against the dollar compared over its previous close of 65.17. The yield on the 10-year benchmark government security hardened to 6.97 per cent.

The GST panel on Friday moved 178 items to the 18 per cent GST rate