Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
Despite weak Asian and European equity markets, Indian bourses extended gains for third-straight session and closed Thursday’s trading session on a higher note. Hopes of Goods and Services Tax (GST) implementation on time also boosted investors’ sentiments.
The Lok Sabha cleared four key GST Bill on Wednesday which was tabled by Finance Minister Arun Jaitley on Monday. The Union government wants to implement the Bill from July 1, 2017.
The Sensex at the BSE closed 116 points or 0.39 per cent higher at 29,647. Meanwhile the NSE Nifty ended at record closing high, up 30 points or 0.33 per cent at 9,174.
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In the broader markets, BSE Midcap and BSE Smallcap indices jumped 0.4 per cent and 1 per cent respectively.
On Wednesday, the Sensex at the BSE had closed 122 points or 0.41 per cent higher at 29,531 and the Nifty at the NSE had ended 43 points or 0.47 per cent up at 9,144.
Top gainers in the Sensex-30 pack: Adani Ports (up 5.8 per cent), HDFC Bank (up 2.5 per cent), Bharti Airtel (up 1.7 per cent), Gail (up 1.3 per cent) and Reliance Industries (up 1.2 per cent).
Top losers in the Sensex-30 pack: ONGC (down 1.3 per cent), Coal India (down 1.3 per cent), Tata Steel (down 1.1 per cent), Axis Bank (down 1 per cent) and Infosys (down 0.7 per cent).
The Rupee was trading one paisa down at 64.91 against the US Dollar.
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