Sensex trading flat after biggest rally in 5 months
UPDATE: At 0956 hours markets spiralled downwards as Sensex fell 0.11% to 28,022.51 points and Nifty 50 fell 0.08% to 8,671.30 points.
Indian equity markets opened flat on Wednesday after GST council proposed a 'four-slab structure,' with two standard goods and services tax (GST) rates of 12% and 18% during its meet on Tuesday, October 18.
The 30-scrip Sensitive Index (Sensex) was trading up 61 points to 28,112 points and 50-scrip NSE Nifty was trading up 19 points to 8,697 points from the previous day's close.
Five minutes into early trade session and Sensex fell 0.04% to 28,039.28 points while Nifty 50 fell 0.05% to 8,673.80 points at 0920 hours.
(BSE Sensex after opening bell. See live market prices here.)
The rupee opened higher by four paise at 66.68/$ as against the previous close of 66.72/$.
Asian markets gained marginally in early trade as Chinese data confirmed a ‘stable’ growth at 6.7%.
Tata Motors’ stocks comes into focus with their board approval of Negotiable Certificate of Deposits (NCD) of up to Rs 5 billion.
Among the gainers on BSE Sensex were Gati (5.94%), Bhel (5.29%), IDBI (3.78%), Bajaj Finserv Ltd (2.88%), Coromandel International (2.71%).
The losers in early trade were; Ceat Ltd (2.1%), JK Tyre (1.69%), Petronet (1.67%), Va Tech Wabag (1.45%), GE&T (1.29%).