Markets end lower after record high; Sensex down 99 pts, Nifty below 10,500
All that happened in Wednesday's session
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Bonds, Stock markets, Shares, Trading
The benchmark indices pared all intraday gains to settle lower on Wednesday with the Nifty50 slipping below its crucial 10,500 following news reports that the government may announce additional borrowing after the mop-up under the goods and services tax (GST) in November fell to just above Rs 80,000 crore.
The S&P BSE Sensex and the Nifty50 had hit their respective record highs in the early trade.
“The collection under the GST for November has been Rs 80,808 crore till December 25, 2017,” the government said in a release on Tuesday.
The decline could be attributed to the rate reduction for more than 200 items in the same month and the use of the integrated GST (IGST) as credit for paying taxes. This will heighten the Centre’s fiscal concerns ahead of the Union Budget, dashing hopes of any further reduction in rates in the near future.
Overseas, European markets were trading higher, while Asian markets also rose with oil and copper prices rocketing to multi-year highs in an uplifting sign for global growth and inflation.
3:58 PM
Anand James, Chief Market Strategist, Geojit Financial Services
Markets remained buoyant for most part of the day, but were in no mood to push much higher ahead of F&O expiry. Rising oil and tensions in the Korean peninsula are back to dominating global cues, while potential for long term capital gains being taxed are also viewed with caution. While SEBI's new framework to ease norms for FII investment may enthuse the investors in the new year, uncertainties over the H1B visa regime could stir up the momentum in IT stocks.
3:40 PM
Sensex heatmap at close
Source: BSE
3:38 PM
Markets at close
The S&P BSE Sensex settled at 33,911, down 99 points, while the broader Nifty50 ended at 10,490, down 41 points.
| S&P BSE Sensex | 33,873.79 | -0.40% | |
| Nifty 50 | 10,486.25 | -0.43% | |
| S&P BSE 200 | 4,651.94 | -0.39% | |
| Nifty 500 | 9,434.20 | -0.38% | |
| S&P BSE Mid-Cap | 17,658.42 | -0.27% | |
| S&P BSE Small-Cap | 19,041.57 | -0.37% | |
3:25 PM
L&T's construction arm wins orders worth Rs 1,125 cr
Larsen & Toubro (L&T) on Tuesday said its construction arm has won orders worth Rs 1,125 crore across business segments. READ MORE
3:20 PM
Buzzing stock
McNally Bharat rallied as much as 5% to Rs 62.80 after the Kolkata-based construction and engineering firm received an order for construction of 60 TPH Green Anode Plant from Vedanta Limited for a value of Rs 133.50 crore.
3:12 PM
Sensex trades below 34,000
Source: BSE
3:06 PM
Markets pare gains; at day's low
Source: Smartinvestor
| S&P BSE Sensex | 33,876.93 | -0.39% | |
| Nifty 50 | 10,481.65 | -0.47% | |
| S&P BSE 200 | 4,648.60 | -0.47% | |
| Nifty 500 | 9,424.50 | -0.48% | |
| S&P BSE Mid-Cap | 17,623.92 | -0.47% | |
| S&P BSE Small-Cap | 18,984.05 | -0.67% | |
Source: Smartinvestor
2:43 PM
How automation, Infosys spat disrupted India's IT sector
The resilient Indian IT industry, which has been going through challenging times on multiple fronts, faced disruption in 2017 from increasing automation and the boardroom spat in software major Infosys spilling into the public domain.
Though the $150-billion (almost Rs 10 trillion) software sector reconciled to single-digit export growth of 7-8 per cent for the 2017-18 fiscal, demand for more automation and using Artificial Intelligence (AI) in the services had put the vendors under pressure to hone the skills of their techies in the thousands and invest in new technologies to deliver on time for global enterprises. READ FULL REPORT
2:35 PM
Nifty Pharma top sectoral gainer
Source: NSE
2:05 PM
Markets check
At 2:00 pm, the S&P BSE Sensex was trading at 34,102, up 92 points, while the broader Nifty50 was ruling at 10,547, up 16 points.
Source: BSE
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 34,113.66 | +103.05 | +0.30 |
| S&P BSE SENSEX 50 | 11,000.37 | +31.23 | +0.28 |
| S&P BSE SENSEX Next 50 | 36,892.21 | +41.97 | +0.11 |
| S&P BSE 100 | 11,049.19 | +28.28 | +0.26 |
| S&P BSE Bharat 22 Index | 3,801.75 | -2.16 | -0.06 |
Source: BSE
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First Published: Dec 27 2017 | 3:35 PM IST