Equity markets jittery over global cues, GST Council meet

he BSE Sensex closed at closed at a new high of 30,658.77 points and intra-day high of 330,692.45 points. The NSE Nifty closed at a new high of 9,525.75 points and an intra-day high of 9,532.60 points.

IANS May 18, 2017 13:25:54 IST
Equity markets jittery over global cues, GST Council meet

Mumbai:  The Indian equity markets on Thursday traded in the red, tracking bearish global cues, a weak rupee and heavy selling pressure in automobile, capital goods and consumer durables stocks.

Equity markets jittery over global cues GST Council meet

Reuters

According to market observers, investors were cautious over the ongoing two-day Good and Services Tax (GST) Council's meet, which will finalise tax slabs on services and commodities in the country.

Around 1 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 51.45 points or 0.54 per cent to 9,474.30 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,466.82 points, traded at 30,562.25 points -- down 96.52 points or 0.31 per cent, from its previous close at 30,658.77 points.

The Sensex has so far touched a high of 30,575.83 points and a low of 30,436.56 points during intra-day trade.

The BSE market breadth was bearish -- with 1,747 declines and 755 advances.

"The equity benchmark indices started off the day on a weak note tracking bearish global cues. Investors remained cautious ahead of the GST panel meet starting from today in Srinagar," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Depreciation of the rupee against the US dollar also pressurised the equity markets in morning trade."

On Wednesday, the BSE Sensex closed at closed at a new high of 30,658.77 points and intra-day high of 330,692.45 points. The NSE Nifty closed at a new high of 9,525.75 points and an intra-day high of 9,532.60 points.

The new intra-day highs of the benchmark indices are also their new 52-week highs.

 

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

In Garima Gupta's 'filed under: a/muse/um', an examination of the politics of documenting, archiving
Arts & Culture

In Garima Gupta's 'filed under: a/muse/um', an examination of the politics of documenting, archiving

Garima Gupta's detailed pencil sketches strongly overlay the connection between the land's history of colonial intrusion into its tropics and its impact on the people today, mirrored in their engagement with wildlife trade and oil palm plantations.

Delhi Lockdown: Arvind Kejriwal seeks to shut markets emerging as COVID-19 hotspots
India

Delhi Lockdown: Arvind Kejriwal seeks to shut markets emerging as COVID-19 hotspots

The Delhi government has sent a proposal to Lieutenant-Governor Anil Baijal to roll back its decision to allow public gathering of 200 people and restricted the number to 50 now

COVID-19 has exposed need for stronger global supply chains, says South Africa President Ramaphosa
World

COVID-19 has exposed need for stronger global supply chains, says South Africa President Ramaphosa

The pandemic has taken an even greater toll on emerging economies already faced with poverty, inequality and underdevelopment, he added.