Sensex turns negative after 200-point rally

Since the GST bill was passed in Rajya Sabha on Wednesday, Sensex lost 60 points after gaining 224 points, in a highly volatile trading session.

By: PTI | Mumbai | Published:August 4, 2016 11:25 am
Sensex, Indian stock Market, Stock Market, latest news, India buisness, India news, latest news Selling was seen in consumer durables, oil&gas, banking, FMCG, teck and IT sector stocks, dragged the down key indices. (File Photo)

In a highly volatile trading session, the BSE Sensex dipped over 60 points after surging by more than 224 points in early morning trade with markets showing
signs of uncertainly after the Rajya Sabha passed the historic GST bill, on Wednesday.

Selling was seen in consumer durables, oil&gas, banking, FMCG, teck and IT sector stocks, dragged the down key indices.

The 30-share barometer resumed higher at 27,899.88 and advanced to 27,921.91 but succumbed to widespread profit-booking and was quoting 64.40 points, or 0.36 per cent down at 27,633.11. The gauge had lost 511.09 poins in the previous four straight sessions.

The 50-share Nifty was also trading lower by 25.35 points, or 0.29 per cent, at 8,519.50 after climbing to 8,601.40.

Laggards were Lupin, ICICI Bank, Reliance Industries, Infosys, ITC Ltd, Cipla, HDFC Ltd, Bharti Airel, SBI and HDFC Bank.

Overseas, Asian shares were mixed with Hong Kong’s Hang Seng rising 0.62 per cent, while Japan’s Nikkei shed 0.39 per cent in early trade today. Shanghai Composite Index fell 0.36 per cent.

US stocks ended higher 0.23 per cent, on Wednesday.

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