Nifty rises marginally, ends above 10,300-mark

NSE benchmark Nifty ended marginally higher in a volatile trading session today owing to gains in index heavyweights SBI and L&T.

Published: 10th November 2017 06:45 PM  |   Last Updated: 10th November 2017 07:21 PM   |  A+A-

For representational purposes (File | Reuters)


MUMBAI: NSE benchmark Nifty ended marginally higher in a volatile trading session today owing to gains in index heavyweights SBI and L&T.

Sentiment was boosted after the GST Council provided some relief to several sectors by slashing tax rates on a host of consumer items, from chewing gums to detergents, to 18 per cent from the current 28 per cent.

However, gains were capped as concerns around oil prices dented energy and auto stocks.

Globally, European markets were trading lower as investors continued to monitor corporate earnings.

Asian shares ended lower on uncertainty about US tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives' version in several key areas, including a delay in the timing of a corporate tax cut.

The NSE Nifty opened lower at 10,304.35 and moved in a range of 10,344.95 and 10,254.10 before ending at 10,321.75, up by 12.80 points, or 0.12 per cent.

It saw an intra-day movement of about 90.85 points.

At the broader market, Nifty Midcap slipped 0.10 per cent, while smallcap index advanced 0.27 per cent.

Sector-wise, PSU Bank rose 4.32 per cent followed by Infra 1.15 per cent, Bank 0.82 per cent, FMCG 0.76 per cent, Media 0.56 per cent, Finance Service 0.44 per cent, Metal 0.41 per cent and Private Bank 0.27 per cent.

Pharma dipped 1.32 per cent, Energy 1.06 per cent, Auto 0.51 per cent and IT 0.23 per cent.

Major index gainers were SBI, L&T, HUL, M&M, ICICI Bank, Bajaj Auto and Power Grid.

Losers included Aurobindo Pharma, Tata Motors, HPCL, Bosch Ltd, BPCL, Reliance, UPL and Kotak Bank.

The market breadth, indicating the overall health of the market, was in favour of losers. On the NSE, 711 stocks advanced, 998 declined and 69 remained unchanged.

Total securities that hit their price bands were 141.

Turnover in the cash segment rose to Rs 36,053.68 crore from Rs 33,372.54 crore on Thursday.

A total of 15,699.54 lakh shares changed hands in 11,325,624 trades. The market capitalisation of listed firms on NSE stood at Rs 1,42,36,721.31 crore.

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