Sensex zooms over 250 points, Nifty nears 9900-mark

Marco Green
October 3, 2017

The benchmark BSE Sensex surged almost 300 points in the opening trade on Tuesday as Finance Minister Arun Jaitley had on Sunday indicated that the government would consider reducing the goods and services tax slabs and easing compliance burden for small taxpayers once revenues from GST better those from the previous tax regime. The 30-share BSE Sensex opened on 31,537.81, up by 254.09 points while the broader 50-share NSE Nifty gained 104.70 points to open on 9,893.30.

Biggest gainers in the 30-share index were Tata Motors (4.61%), GAIL (India) (3.42%), Bajaj Auto (2.50%), Mahindra & Mahindra (1.93%), Reliance Industries (1.89%), and Asian Paints (1.72%).

The rupee, however, fell sharply by 32 paise to 65.60 against the dollar in opening trade today as the greenback took on more strength overseas.

The rupee opened at 65.65 per Dollars.

At 1 PM: Sensex was up by over 278 points or 0.89% at 31,561.99 while the wider Nifty was up by over 79 points or 0.81% at 9,868.20 during afternoon trade on Tuesday. The central bank's two-day monetary meet starts on Tuesday and the decision is due Wednesday. This has led to unabated buying by domestic financial institutions, which added to the positive mood.

Among BSE sectoral indices, auto index gained the most by 1.48 per cent, followed by metal 1.27 per cent, consumer durables 1.27 per cent and realty 1.13 per cent.

At 11.30 AM: Sensex advanced 261 points or 0.83% to 31,544.73 while the wider Nifty was up by over 75 points or 0.77% at 9,863.80. SBI Life Insurance Company on Tuesday made its stock market debut.

The BSE Sensex traded at 31,542.74 at 1158 hours, up 259.02 points, or 0.83 per cent. Among the major gainers' Motors, Dr Reddy's and Sun Pharma were the top gainers.

Other reports by Click Lancashire

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