Sensex, Nifty reach new highs even as investors await RBI policy after getting GST ready

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June 5, 2017 7:05 PM

Indian benchmark indices, BSE Sensex and NSE Nifty, today closed at new closing highs of 31,309 points and 9,675 points respectively. The S&P BSE Mid-Cap index gained 0.15 per cent while the S&P BSE Small-Cap index rose 0.65 per cent.

The 30-share BSE Sensex opened flat at 31,274.74 points and rose 36.20 points or 0.12 per cent to close at 31,309.49 points. while the 50-share NSE Nifty too opened at flat 9,653.50 points gained 21.60 points or 0.22 per cent, to close at 9,675.10 points. (Image: PTI)

Helped by the country’s preparedness for GST and investors’ wait of the RBI policy, Indian benchmark indices, BSE Sensex and NSE Nifty, today closed at new closing highs of 31,309 points and 9,675 points respectively. The 30-share BSE Sensex opened flat at 31,274.74 points and rose 36.20 points or 0.12 per cent to close at 31,309.49 points. while the 50-share NSE Nifty too opened at flat 9,653.50 points gained 21.60 points or 0.22 per cent, to close at  9,675.10 points.

The market sentiment also got a boost after the GST Council last week finalised rates for almost all the remaining items, such as precious metals (gold and silver), diamonds, biscuits, textiles and footwear. The biggest tax reform in India has a roll out date of 1 July.

Major gainers included Bajaj Auto up 1.92 per cent, TCS up 1.53 per cent, L&T up 1.15 per cent, Axis Bank up 1.02 per cent, Adani Ports up 1.02 per cent, Cipla up 0.99 per cent, HUL up 0.98 per cent, ONGC up 0.92 per cent and Wipro up 0.66 per cent, while major laggards included Coal India down 1.67 per cent, Gail down 1.02 per cent, Infosys down 0.95 per cent, Lupin down 0.79 per cent, Dr Reddy down 0.72 per cent, Hero Motocorp down 0.67 per cent and HDFC down 0.63 per cent.

The S&P BSE Mid-Cap index gained 0.15 per cent while the S&P BSE Small-Cap index rose 0.65 per cent. As per provisional data released by the stock exchanges, Foreign portfolio investors (FPIs) sold shares worth a net Rs 59.13 crore last Friday.

The market breadth remained positive as 1,437 stocks ended higher, 1,238 declined, while 189 ruled unchanged. The total turnover on BSE amounted to Rs 3,012.89 crore, lower than the turnover of Rs 3,081.68 crore registered during the previous trading session.

Asian stocks closed mixed. Key indices in Asia like China, Japan, Singapore and Taiwan moved up by 0.11 per cent to 0.68 per cent, while indices in Hongkong and South Korea declined by 0.13 per cent to 0.24 per cent.

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