Markets open on strong note, Nifty goes past 9900-mark

Marco Green
October 6, 2017

Key Indian equity indices, which opened in the green on Thursday, closed on a lower note on the back of weak European markets and heavy selling pressure in banking, and oil and gas stocks. The early indicator of NSE Nifty 50 - SGX Nifty Futures - was trading little changed, up 0.09% at 9,929 points on the Singapore Stock Exchange. Expectations built up that today's meeting of the GST Council may provide some relief to exporters and SMEs in terms of faster refunds and compliance.

On the other hand, Hero Motocorp (1.50%), Housing Development Finance Corporation (1.26%), ICICI Bank (0.76%), Bajaj Auto (0.72%), Tata Motors (0.44%), and Tata Consultancy Services (0.32%) were the major losers in the Sensex.

Sensex and Nifty are likely to open higher on Friday tracking the Wall Street shares which again closed at record highs on Thursday on the optimism over United States tax reform plans.

At 10.30 AM: Sensex zoomed over 187 points or 0.59% at 31,779.76 while the wider Nifty was up by over 68 points or 0.69% at 9,956.85. Stocks of Prataap Snacks lost 2.34% to Rs 1,150.70 during early morning trade on BSE, with the stock sliding on profit booking after registering impressive listing gains on the bourses yesterday, 5 October 2017.

The Sensex touched a high of 31,752.16 points and a low of 31,457.78 during intra-day trade.

All BSE sectoral indices were trading in the positive zone.

Other reports by Click Lancashire

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