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Sensex opens with gains, Nifty trades positive on GST Council relief

The GST Council has made some sweeping changes to give relief to small and medium businesses.

business Updated: Oct 09, 2017 10:47 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
Sensex,Nifty,Stock market
The NSE index Nifty too edged higher by 10.10 points, or 0.10%, to 9,989.80.(PTI File Photo)

The Sensex on Monday opened strong, taking a cue from the GST Council offering relief to exporters and SMEs.

The Council last week made some sweeping changes to give relief to small and medium businesses. It also slashed tax rates on more than two dozen items.

Asian markets traded both ways.

The 30-share index rose 67.10 points, or 0.21%, to 31,881.32. The gauge had soared 222 points in the previous session on Friday.

Sectoral indices took strength from consumer durables, FMCG, healthcare and auto stocks, trading higher by up to 2.12%.

The NSE index Nifty too edged higher by 10.10 points, or 0.10%, to 9,989.80.

Besides, domestic institutional investors pumped in funds unabated.

The big gainers that supported the key indices include Tata Steel, Tata Motors, ICICI Bank and Coal India, rising by up to 1.63%.

Shanghai Composite was up 1.18% while Hong Kong’s Hang Seng shed 0.31% in early deals. Japanese financial markets are shut today for a pubic holiday.

US Dow Jones Industrial Average ended marginally lower by 0.01% on Friday.

First Published: Oct 09, 2017 10:47 IST