Thursday, 30 March 2017

OPENING BELL >> Market To Trade With Positive Bais On GST

Yesterday, Indian Benchmark Index Nifty opened gap-up by 28 points at 9128, the index made high of 9153 after FM begin debate on GST in Lok sabha which is highly expected to roll-out from 1st July 2017. Nifty closed at 9144. Arun Jaitley Commented on GST that:-

• GST bill is expected to get passed in parliament on 12th April and impose taxes from 1st July.

• The Tax will include tax slab of 5, 12, 18 and 28. Maximum capping to the structure is 40% to cater financial emergency.

• Finance Minister expects to meet again on 31st March to approve the item in each category.

Bank Nifty index made new all-time high of 21419 and closed at 21391. SBI was up by 2.34%, Kotak Mahindra Bank was up by 0.35%, ICICI Bank was up by 1.91% and HDFC Bank zoomed 0.66%. Federal Bank, IndusInd Bank and Yes Bank made new 52 week high today.

• Small Cap Index is trading in a range of 90 points from 6800 to 6890 from last 5 trading sessions. The index today made a high of 6890 and closed at 6876.

Nifty Future is opening at 9195 as per SGX Nifty at 8:00 am IST, 12 point above its previous close of 9183.35.

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