Sensex turns negative after 200-point rally
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MUMBAI: In a highly volatile trading session, the BSE Sensex dipped over 60 points after surging by more than 224 points in early morning trade with markets showing signs of uncertainly after the Rajya Sabha on Wednesday passed the historic GST bill.
Selling was seen in consumer durables, oil&gas, banking, FMCG, teck and IT sector stocks, dragged the down key indices.
The 30-share barometer resumed higher at 27,899.88 and advanced to 27,921.91 but succumbed to widespread profit-booking and was quoting 64.40 points, or 0.36 per cent down at 27,633.11. The gauge had lost 511.09 poins in the previous four straight sessions.
The 50-share Nifty was also trading lower by 25.35 points, or 0.29 per cent, at 8,519.50 after climbing to 8,601.40.
Laggards were Lupin, ICICI Bank, Reliance Industries, Infosys, ITC Ltd, Cipla, HDFC Ltd, Bharti Airel, SBI and HDFC Bank.
Overseas, Asian shares were mixed with Hong Kong's Hang Seng rising 0.62 per cent, while Japan's Nikkei shed 0.39 per cent in early trade on Thursday. Shanghai Composite Index fell 0.36 per cent.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
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The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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