Selling pressure, caution over GST dent equity markets


Mumbai, Jun 23 (IANS): The Indian equity markets traded in the red during the mid-afternoon session on Friday as broadly negative global cues, coupled with caution ahead of the Goods and Services Tax (GST) implementation and heavy selling pressure in automobile, capital goods, oil and gas and banking stocks subdued investor sentiments.

At 1.00 p.m., the wider Nifty of the National Stock Exchange (NSE) fell by 45.40 points, or 0.47 per cent, to 9,584.60 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,352.57 points, traded at 31,171.46 points -- down 119.28 points, or 0.38 per cent, from its previous close at 31,290.74 points.

The Sensex has touched a high of 31,365.39 and a low of 31,128.36 points during intra-day trade.

"Equity benchmarks opened flat but the momentum is negative today and during the first half of session, Nifty has not tried to bounce back from the fall that started after opening flat," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Asian markets are trading mixed. Caution has set in as investors waited for the launch of the GST due on July 1."

  

Top Stories


Leave a Comment

Title: Selling pressure, caution over GST dent equity markets



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.