Sensex, Nifty hit new peaks

Sensex, Nifty hit new peaks

Mumbai: Taking a breather after a record-setting spree, benchmark Sensex plunged 224 points Thursday to retreat from lifetime highs as investors booked profits amid global volatility.

The 30-share Sensex opened on a strong footing and surged to a new peak of 30591.55 before closing 260.48 points, or 0.86 per cent, higher at 30582.60, breaching its previous record close of 30322.12 points reached yesterday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) provisionally closed at 9,427.90 points - down 1.55 points or 0.02 per cent. As per the GST tax rates announced recently, the impact is very positive and signals that the mass consumption items will be taxed lower.

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.




The BSE Mid-Cap index was up 0.56 percent while the Small-Cap index rose 0.89 percent. London's FTSE rose 0.52 per cent. The BSE AUto index was down 1.2 per cent; Cummins India, Maruti Suzuki, Mahindra & Mahindra, Eicher Motors, MRF and Bosch were among the losers from this space. Domestic institutional investors (DIIs) bought shares worth a net Rs. 897.96 crore.

The overall market breadth was extremely bearish as 1,786 shares ended lower while 962 closed higher on the BSE.

Coal India rallied 2.6%, followed by NTPC and PowerGrid as the GST rate on the hydrocarbon was pegged at 5% as compared with the current tax burden 11.69%, which will make electricity cheaper.

Further, a host of changes have been made in BSE 100, BSE 200, BSE 500, Sensex Next 50 and sectoral indices such as Teck and carbonex. Those moving out of the BSE 100 index are Union Bank of India, Jindal Steel & Power, Reliance Communications, Reliance Power, GMR Infrastructure, Bank of India, IDBI Bank, United Spirits, Hindustan Zinc, Federal Bank and Housing Development & Infrastructure.

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