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Benchmark equity indices traded higher on Monday afternoon, in line with the rally in their Asian peers, and continuous inflows into Indian shares as investors gave a thumbs up to the ongoing reforms development.The rates for goods and services tax (GST) were announced on Friday. The tax reform is touted as the biggest one since India achieved Independence in 1947.The BSE Oil & Gas index the top losing index during pre-lunch hours on Monday. It is down by 0.89% at 13,909.
BPCL and HPCL are the major contributors to the index losses and dragging it to lower levels. BPCL is down 2% at Rs 688 per share and HPCL is down 2.2% at Rs 509 per share.Other stocks in the index such as Castrol India is down 1.8% at Rs 428 per share, Indraprastha Gas is down 1.3% at Rs 985 per share, GAIL is down by 1.2% at Rs 396 per share and Indian Oil Corporation is also down by 0.5% at Rs 432 per share.
Meanwhile, Shakti Pumps has shot up above 11%. It is up by 11.43% at Rs 360.35 per share. Also, ITC is trading at day’s high at Rs 300.70 per share.The S&P BSE Sensex is trading at 30,547 up 82 points, while NSE Nifty is trading at 9447 up 19 points. A total of 36 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
Benchmark equity indices traded higher on Monday afternoon, in line with the rally in their Asian peers, and continuous inflows into Indian shares as investors gave a thumbs up to the ongoing reforms development.The rates for goods and services tax (GST) were announced on Friday. The tax reform is touted as the biggest one since India achieved Independence in 1947.The BSE Oil & Gas index the top losing index during pre-lunch hours on Monday. It is down by 0.89% at 13,909.
BPCL and HPCL are the major contributors to the index losses and dragging it to lower levels. BPCL is down 2% at Rs 688 per share and HPCL is down 2.2% at Rs 509 per share.Other stocks in the index such as Castrol India is down 1.8% at Rs 428 per share, Indraprastha Gas is down 1.3% at Rs 985 per share, GAIL is down by 1.2% at Rs 396 per share and Indian Oil Corporation is also down by 0.5% at Rs 432 per share.
Meanwhile, Shakti Pumps has shot up above 11%. It is up by 11.43% at Rs 360.35 per share. Also, ITC is trading at day’s high at Rs 300.70 per share.The S&P BSE Sensex is trading at 30,547 up 82 points, while NSE Nifty is trading at 9447 up 19 points. A total of 36 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
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