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Indices end 1% lower: Sensex down 360 pts, Nifty at 10,350; Lupin tanks 17%

All that happened in the market today

SI Reporter  |  New Delhi 

Nifty Pharma index fell over 4% Source: NSE Sectoral Trend Source: NSE Top Sensex gainers and losers Source: NSE Broader markets In broader markets BSE Midcap and BSE Smallcap indices fell 1.5% and 1.4% respectively  Markets at close Benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.  The S&P BSE index ended at 33,370, down 360 points hwile the broader Nifty50 index ended at 10,350 down 101 points More goods may get cheaper as Jaitley hints at pruning 28% GST slab list   Finance Minister Arun Jaitley today hinted at pruning the list of items in the highest GST tax bracket of 28% after revenue in the new regime equalise collections previously.   Under the Goods and Services Tax (GST) regime implemented from July, over 1,200 products and services have been fitted into one of the 5, 12, 18 and 28 per cent tax slabs based on the principle of keeping the total tax incidence at almost the same level as previously as well as keeping revenue collections neutral.   Jaitley said some of the items should never have been in the 28 per cent slab and the GST Council in the last 3-4 meetings has slashed rates on over 100 items, thereby bringing them down either from 28 per cent to 18 per cent or from 18 per cent to 12 per cent.

The benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.  Bonds and the rupee also fell after oil prices surged overnight to their highest since mid-2015, raising concerns about the inflation outlook and hitting oil refiners such as Reliance Industries Oil prices rose 3.5% on Monday, the highest since early July 2015, as Saudi Arabia’s crown prince cemented his power with an anti-corruption crackdown, ...

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First Published: Tue, November 07 2017. 15:31 IST
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Indices end 1% lower: Sensex down 360 pts, Nifty at 10,350; Lupin tanks 17%

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All that happened in the market today The benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.  Bonds and the rupee also fell after oil prices surged overnight to their highest since mid-2015, raising concerns about the inflation outlook and hitting oil refiners such as Reliance Industries Oil prices rose 3.5% on Monday, the highest since early July 2015, as Saudi Arabia’s crown prince cemented his power with an anti-corruption crackdown, ... image
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Indices end 1% lower: Sensex down 360 pts, Nifty at 10,350; Lupin tanks 17%

All that happened in the market today

The benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.  Bonds and the rupee also fell after oil prices surged overnight to their highest since mid-2015, raising concerns about the inflation outlook and hitting oil refiners such as Reliance Industries Oil prices rose 3.5% on Monday, the highest since early July 2015, as Saudi Arabia’s crown prince cemented his power with an anti-corruption crackdown, ...

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