Sensex rises on GST push, makes second weekly gain

FMCG stocks hogged the limelight after the GST Council fixed rates for most of the goods.

By: PTI | Mumbai | Published:May 19, 2017 5:28 pm
Sensex, Nifty, stocks, stock market, stock close, BSE sensex, BSE, NSE, NSE Nifty, GST, sensex GST, market, business news Nifty, however, finished a shade lower. (Representational photo)

Benchmark Sensex gained 30 points to end at 30,464 on Friday as FMCG stocks rallied after the GST Council finalised tax rates for bulk of the goods. Nifty, however, finished a shade lower.

The BSE Sensex resumed higher and hit its all-time high of 30,712.35 (intra-day), the fourth in five sessions, but later eased to a low of 30,338.52 before settling 30.13 points, or 0.10 per cent higher at 30,464.92.

The broader 50-share NSE Nifty touched a high of 9,505.75 at the outset, but succumbed to profit-booking and settled 1.55 points, or 0.02 per cent, down at 9,427.90.

Both the indices recorded their second straight weekly gains by rising 276.77 points, or 0.91 per cent and 27 points, or 0.28 per cent, respectively.

FMCG stocks hogged the limelight after the GST Council fixed rates for most of the goods. Common use products such as hair oil, soaps and toothpaste will cost less from July 1 when GST is due to set in.

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