Sensex rebounds 209 pts as GST Council freezes tax rates

It took just five trading sessions for NSE benchmark Nifty to rise 100 points to 9,500 yet another record high

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

The key indices, which opened on a higher note following a rebound in global cues and the Goods and Services Tax (GST) Council's fitment of 1,211 goods in the tax slabs, were pulled lower during afternoon trade.

The 50-share NSE Nifty, too, maintained its bull run and touched a new peak of 9517.20. The Sensex of the BSE shed 223.98 points or 0.73 per cent to close at 30,434.79 points.

The S&P BSE mid-cap index fell 0.72 per cent while the small-cap index declined 0.88 per cent.

All sectoral indices flashed red, down by up to 1.19 per cent, with realty, consumer durables, bank and auto registering much losses.

Karur Vysya Bank advanced 1.5 percent on reporting a 58 percent increase in quarterly profit.

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.

In the Asian region, Hong Kong's Hang Seng rose 0.30 per cent, Shanghai Composite rose 0.12 per cent and Japan's Nikkei gained 0.19 per cent in early deals today.

However, on Friday, uncertainty over the U.S. President Donald Trump's economic agenda following his reported interference with a federal investigation forced investors to take profits on intraday gains, dealers said.

The US Dow Jones Industrial Average ended 1.78 per cent lower in Wednesday's trade, its biggest single-day slump in eight months.

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.

Visaka Industries, Teamlease Services, Siyaram Silk Mills, Sharda Cropchem, State Bank of India, Muthoot Capital Services, Jayaswal Neco Industries, were some of the other stocks that touched their 52-week high on NSE on Friday.

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