Sensex drops 690 points on Friday, Nifty ends below 10,800; RIL falls 3%


After opening marginally lower, the domestic equity market saw a sharp decline in the trade on Friday as investors booked profit across-the-board. The S&P BSE Sensex was trading nearly 600 points lower, slipping below the 36,000 mark in late noon deals, while NSE’s Nifty50 slipped below the crucial 10,800 level, down over 150 points.

IOC, UPL, Adani Ports, Maruti Suzuki and Indiabulls Housing were top losers among Nifty50 stocks, which fell 3.5-4.5 percent.

HPCL, BPCL, Coal India and NTPC were only gainers, up 1-2 percent.

About two shares declined for every share rising on the BSE.

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Markets rebound to end marginally higher on Friday, the eve of GST


Benchmark indices rebounded to ended marginally higher after a day of subdued trading as caution ahead of the launch of a goods and services tax (GST) kept investors on edge. The indices ended the month of June in negative, first monthly loss this year, even after they rose a bit in the late afternoon deals.

The revised tax structure will kick in from midnight, marking India’s biggest tax reform since independence, unifying its $2 trillion economy and 1.3 billion people into a common market.

The S&P BSE Sensex settled the day at 30,921, up 64 points, while the broader Nifty50 was ruling at 9,521, up 17 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap bucked the trend to gain 0.6% each.

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