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Nifty closed higher by 21 points at 9675 levels while Sensex closed higher by 36 points at 36 levels. Both the benchmark indices touched their all-time highs on Monday. Nifty and Sensex touched their life-time high of 9687 levels and 31355 levels respectively on Monday.Broader market indices were also trading in positive territory in line with the major indices in the market. BSE Small-cap index closed higher by 0.15% at 14824 levels and BSE Mid-cap index closed higher by 0.65% at 15409 levels.
Indiabulls Housing Finance was top Nifty gainer closed higher by 3.38% at Rs 1170.15 per share. Coal India was top Nifty loser closed lower by 1.58% at Rs 264.55 per share. There were 732 advances, 587 declines and 61 unchanged stocks on NSE reflecting fairly positive bias floating in the market.Bank Nifty closed at its record high of 23494 levels backed by Yes Bank and Axis Bank. Nifty Pharma ended its four days gaining streak with Lupin and Dr Reddy’s as top losers.
Bombay Dyeing, one of India’s largest producer of textiles soared nearly 10% on Monday, on the BSE as a reflection of the textile industry welcoming the decision of fixing reasonable GST rates to most of its categories. The stock closed higher by 6.60% at Rs 76.7 per share.The GST Council on Saturday cleared the pending rules for the rollout of the new tax regime from July 1. GST Council finalised the rates of commodities such as gold, biscuit, footwear and textiles on Saturday. In the meeting on Saturday, the GST Council decided that biscuits below Rs 100 per kg will attract 18% GST as compared to its current rate of 9-10%.
Footwear stocks, Bata Limited, Realaxo Footwear and Sree Leathers were in focus on Monday’s trading session GST council fixed the rates for gold, textiles, footwear and biscuits on Saturday. In the meet footwear costing up to Rs 500 will be levied a 5% GST and for those above this will be taxed at 18%.
Indiabulls Housing Finance was top Nifty gainer closed higher by 3.38% at Rs 1170.15 per share. Coal India was top Nifty loser closed lower by 1.58% at Rs 264.55 per share. There were 732 advances, 587 declines and 61 unchanged stocks on NSE reflecting fairly positive bias floating in the market.Bank Nifty closed at its record high of 23494 levels backed by Yes Bank and Axis Bank. Nifty Pharma ended its four days gaining streak with Lupin and Dr Reddy’s as top losers.
Bombay Dyeing, one of India’s largest producer of textiles soared nearly 10% on Monday, on the BSE as a reflection of the textile industry welcoming the decision of fixing reasonable GST rates to most of its categories. The stock closed higher by 6.60% at Rs 76.7 per share.The GST Council on Saturday cleared the pending rules for the rollout of the new tax regime from July 1. GST Council finalised the rates of commodities such as gold, biscuit, footwear and textiles on Saturday. In the meeting on Saturday, the GST Council decided that biscuits below Rs 100 per kg will attract 18% GST as compared to its current rate of 9-10%.
Footwear stocks, Bata Limited, Realaxo Footwear and Sree Leathers were in focus on Monday’s trading session GST council fixed the rates for gold, textiles, footwear and biscuits on Saturday. In the meet footwear costing up to Rs 500 will be levied a 5% GST and for those above this will be taxed at 18%.
Gems and Jewellery stock Titan Company was in a bullish mood soared over 14% on NSE at Rs 538.75 per share. The stock closed higher by around 17% at Rs 551.85 per share. The 15th GST council meet held recently, has fixed GST tax rate of 3% on gold, silver and processed Diamonds.
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