Tuesday, 28 March 2017

Market To Remain Strong On GST Bill Discussion

Yesterday, Indian Benchmark Index Nifty Opened 20 points gap down at 9093 and made high of 9094, the index closed at 9045 after making low of 9025. Heavy weight in Index HDFC Bank fell1.02%, Reliance Industries fell 2.77% and Infosys was down by 0.25%. 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.
 
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Bank Nifty opened at 21178 and made high of 21179, the index closed at 20157 after making a low of 20980.

Smallcap index traded in a narrow range of 63 points from 6882 to 6819.

Nifty Future is opening at 9130.80 as per SGX Nifty at 8:50 am IST, 29 point above its previous close of 9101.60.

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