Sensex down 135 points on GST worries, Nifty below 8,526; ONGC top loser

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Updated: August 10, 2015 4:31:29 PM

The key benchmark indices BSE Sensex and NSE Nifty retreated 134.67 points and 39 points at 28,101.72 and 8,525.60 per cent, respectively.

BSE SensexThe BSE Sensex and NSE Nifty pared gains in the last half an hour of the trade following reports that the GST Bill is unlikely to be passed in the ongoing monsoon session of Parliament. (Express Photo)

A sharp sell-off in the last 30 minutes of the trading following reports that the GST Bill is unlikely to be passed in the ongoing monsoon session of Parliament pulled the BSE Sensex and NSE Nifty down on Monday. As a result, the key benchmark indices pared their day’s gains and ended around 0.5 per cent lower than their previous close.

The BSE Sensex and NSE Nifty lost 134.67 points and 39 points at 28,101.72 and 8,525.60, respectively.
The BSE Sensex opened the day at 28250.78 and touched a high and low of 28417.59 and 28017.85, respectively. The NSE Nifty opened at 8577 and touched a high and low of 8621.55 and 8497.80, respectively.

Barring the realty sector, rest all other ended the day in red. Among the sectoral indices on the Bombay Stock Exchange, the BSE Realty index gained 0.83 per cent at 1,449.07. On the other hand, the BSE Metal index tumbled the most – 1.04 per cent to 8582.80. It was followed by the BSE Oil & Gas index (0.94 per cent to 9,873.04), BSE Consumer Durables index (0.92 per cent to 11,308.71) and the BSE FMCG index (down 0.66 per cent to 8,087.42).

Achin Goel, head, Wealth Management and Financial Planning, Bonanza Portfolio, said, “Markets corrected in the last thirty minutes of the session owing to hurdles in the passing of the GST Bill alongwith some stock specific action as well.”

Gaurav Jain, director, Hem Securities, said, “Last half hour of selling pressure drags indices lower shedding day’s gains. Logjam in the Parliament continues and GST bill seems unlikely to be cleared in this monsoon session. Further, weakening of rupee and sell-off by foreign portfolio investors dampened the sentiment.”

Among the 30-share Sensex pack, ONGC, Mahindra & Mahindra, NTPC and Tata Motors dipped 2.55 per cent, 1.96 per cent, 1.91 per cent and 1.71 per cent to Rs 275.10, Rs 1360.45, Rs 131.30 and Rs 385.85, respectively.

Share price of Bharat Heavy Electricals Ltd, Hero MotoCorp, Maruti Suzuki and GAIL jumped 2.01 per cent, 1.67 per cent, 1.03 per cent and 0.79 per cent to Rs 271.15, Rs 2704.85, Rs 4,497.70 and Rs 344.40, respectively.

The BSE Midcap index and BSE Smallcap index ended down around 0.02 per cent and 0.41 per cent respectively.

Shares of Mukta Arts were seen in action owing to some reports that leading gadget manufacturer Foxconn Technology is in talks with the company to buy a stake in the parent company or in one of its arms. Shares of Mukta Arts touched upper circuit after gaining 20 per cent intraday.

Companies like Tata steel, NMDC, Jubilant, State Bank of India, Apollo Tyres, Hathway Cable & Datacom, Sun Pharma, Reliance Power, Adani Enterprises, Godrej Industries and Prestige Estates may announce their earnings.
Shares on Chinese bourses posted modest gains on Monday adjusting for the mixed economic data that was released by the Chinese authorities over the weekend. Shanghai Composite index and Shenzhen Composite gained 4.92 per cent and 4.49 per cent, respectively, on Monday.

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