Sensex extends gains; Nifty reclaims 10,000-mark on GST Relief package
New Delhi: The BSE Sensex gained over 75 points while the broder Nifty reclaimed the 10,000-mark in early trade Monday, taking a cue from the GST Council offering relief to exporters and SMEs.
The GST 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.
The 30-share index rose 67.10 points, or 0.21 percent, 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 percent.
The NSE index Nifty too edged higher by 24.25 points, or 0.24 percent, to 10,003.95.
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 per cent.
Shanghai Composite was up 1.18 percent while Hong Kong’s Hang Seng shed 0.31 percent in early deals. Japanese financial markets are shut today for a pubic holiday.
US Dow Jones Industrial Average ended marginally lower by 0.01 percent on Friday.
Sensex
