Share markets in India continued to trade marginally higher in the afternoon session amid mixed global indices. At the closing bell, the BSE Sensex stood higher by 63 points, while the NSE Nifty finished up by 6 points.
Meanwhile, the S&P BSE Mid Cap finished down by 0.1% & the S&P BSE Small Cap finished flat. Gains were largely seen in FMCG stocks & realty stocks. While, capital goods stocks and bank stocks witnessed majority of the selling activity.
ITC share price finished up by 5% after the GST Council on Thursday cleared a proposal to cap the cess on tobacco and cigarettes. The cess levied, in the case of cigarettes and chewing tobacco, could be either 290% or Rs 4,170 per thousand sticks or a combination of both. These cess rates are an enabling provision and the actual tax incidence could be lower, depending on the decision of the GST council.
Other cigarette companies too were trading higher. VST Industries Ltd share price jumped 7.6%, while Godfrey Phillips India share price jumped 1.2%.
Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.09%, while the Shanghai Composite & the Nikkei 225 fell 0.96% and 0.35% respectively. European markets are mixed. The CAC 40 is higher by 0.20%, while the DAX is leading the FTSE 100 lower. They are down 0.15% and 0.05% respectively.
The rupee was trading at Rs 65.54 against the US$ in the afternoon session. Oil prices were trading at US$ 49.40 at the time of writing.
Wipro share price finished the trading day on an encouraging note (up 0.9%) after it was reported that the company has entered into partnership with Harte Hanks to offer marketing technology services.
In another development, Tech Mahindra and Huawei Enterprise Business Group (EBG) have signed a global partnership agreement. Basis this agreement, Tech Mahindra will market Huawei's enterprise products and services across 44 countries including India.
Tech Mahindra share price finished the day up by 0.3% on the BSE.
M&M share price finished down by 1.4%.
Telecom stocks languished in red in today's trade with Idea Cellular and Bharti Airtel leading the losses. Bharti Airtel share price plunged 3.8% in today's trade after its shareholders approved a proposal to raise up to Rs 100 billion in debt. The news also come at a time when the company scrapped plans to sell a controlling stake in its tower unit Bharti Infratel for now and instead decided to sell 21.63% share in the company.
Read the complete Indian stock market update. For the terms of use, go here.
No comments:
Post a Comment