GST impact: Indian equity markets ends positive; auto shares lead
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Auto stocks zoomed nearly 344 points to 21,072.39 on good news of GST Bill clearance in Rajya Sabha. According to market experts this sector is likely to benefit from the bill. The index opened at 21,016.97 largely higher from its previous closing of 20728.15. All stocks are trading positive with Motherson Sumi taking top spot, surging by 4.75% to Rs 344.90, followed by Tata Motors to Rs 496.50 soaring by 3.62%. Also, Bajaj Auto, Hero MotoCorp, MRF, Ashok Leyland and Amara Raja Batteries trading in positive range of 1.20% - 2%. Maruti Suzuki was up by 0.87% to Rs 4918.
Tata Motors was the top gainer on BSE, after the GST bill clearance. The company opened at Rs 491 and is trading above 12.35 points or 2.58% from its previous closing of Rs 479.15.
In the pre-opening session, the Sensex surged nearly 202 points on Rajya Sabha clearing the much wanted GST Bill. As the market opened on Thursday, the Indian equity indices were trading in green. However, now the Sensex is below 39 points trading at 27,654.98 and Nifty at 8535.30 down by 10 points.
Indian equity indices are expected to open higher as Rajya Sabha on Wednesday approved the much awaited GST bill. SGX Nifty opened positive by surging 44 points or 0.50%. However, asian markets opened lower. On Wednesday during the GST Bill discussion in Rajya Sabha, the Sensex finished nearly 284 points below; while Nifty closed off by 78 points down. Sectors such as auto, FMCG (except ITC which produces cigerattes) and cement are likely to open in green led by the bill.