Sensex down 78 points; ITC, other key FMCG stocks trade firm
- Author: Marlene Weaver May 20, 2017,
May 20, 2017, 0:48
Rates on over 1200 items were finalised by the GST council with 81% facing a levy of up to 18%. Sensex up 45 points at 30,480 and Nifty up 6 points at 9,435.
Japan's Nikkei moved down by 1.44 per cent while Hong Kong's Hang Seng fell 0.25 per cent in early trade on Thursday.
On Wednesday, JSW Steel closed 2.48 percent higher at Rs 207 apiece on the BSE while HUL hit a fresh 52-week high of Rs 1,010 before ending at Rs 1,006.
The overall market breadth was extremely bearish as 1,786 shares ended lower while 962 closed higher on the BSE. SBI's standalone net profit, not including contributions from subsidiaries, jumped to Rs. 2,815 crore for the three months to March 31 from Rs. 1,264 crore a year earlier.
China's Shanghai Composite index was quoting in red, down by 0.18 per cent.
Major losers in the 30-share index were Asian Paints (2.35%), Tata Consultancy Services (1.68%), Maruti Suzuki India (1.46%), Housing Development Finance Corporation (1.40%), Dr Reddy'S Laboratories (1.25%), and G A I L (India) (1.23%). Bank of Baroda, Hindustan Unilever, Coal India, NTPC, UltraTech Cement, State Bank of India and Power Grid were also among the gainers.
Foreign portfolio investors (FPIs) were net sellers of Indian equities worth Rs 731 crore while domestic institutional investors ended up as net buyers of stocks worth Rs 615 crore according to provisional data published by the National Stock Exchange.
The total turnover on BSE fell to Rs 4,134.78 crore from Rs 4,311.27 crore registered during the previous trading session. State-owned GAIL will move out of the Sensex, Asia Index - an equal venture between S&P Dow Jones Indices LLC and the BSE - said in a circular.
Bharat Electronics, IDFC Bank, ABB India, SAIL and Canara Bank will make an entry in Sensex Next 50, replacing Oil India, GlaxoSmithKline Consumer Healthcare, Oracle Financial Services Software, Bajaj Holdings and Investment and Reliance Communications.