Himalayauk himalaya Gaurav Uttarakhand
Snapping previous week’s gains, the benchmark indices on Monday opened lower after Asian markets slipped on worries UK Prime Minister Theresa May may signal plans for a “hard Brexit” in her speech on Tuesday. Back home, the goods and services tax (GST) Council meeting and Wholesale Price index-based inflation due later in the day also kept investors’ nerves frayed.
In the broader market, the BSE Midcap and BSE Smallcap indices registered an uptick of 0.07%, and 0.2%, respectively.
At 09:51 am, the S&P BSE Sensex was trading at 27,213, down 25 points, while the broader Nifty50 was ruling at 8,386, down 14 points.
GST Council meeting
A fortnight ahead of Budget 2017, Finance Minister Arun Jaitley will try to bridge difference with the state governments on GST in a two-day meeting which begins later in the day.
Sectors and stocks
BSE IT index was the top sectoral loser, led by losses in Ramco Systems (down 2.5%), R S SOFTWARE (down 1.9%), Infosys (down 1.7%) and Lycos Internet (down 1.5%)
Shares of Coal India slipped 1% even as its arm Central Coalfields announced an increase in price of coking coal, which may help the PSU earn an additional revenue of nearly Rs 89.98 crore for the remainder of 2016-17 and Rs 222 crore for the next fiscal year.
