Indian benchmark indices end flat on roller-coaster Wednesday
BSE Sensex ended lower on Wednesday, down 5.94 points at 26298.69 while NSE Nifty rose 31.5 points at at 8111.60.
According to media reports, as the news that the Union government is mulling to completely ban foreign direct investment (FDI) in the tobacco sector spread in the market, shares of tobacco companies declined.
Banking, realty, pharma and FMCG stocks also experienced selling pressure on Wednesday.
Key stocks that gained on Wednesday were Asian Paints, TCS, Maruti Suzuki, HDFC, and Bharti Airtel while ITC Ltd, Dr Reddy's Lab, Cipla, Lupin and Sun Pharma were some of the top losers.
Moneycontrol.com reported that Minister of State for Finance, Arjun Ram Meghwal, on Wednesday, said that the Budget date has been finalised as February 1, though a formal confirmation is awaited from the Cabinet Committee on Economic Affairs. The minister said that it was also necessary to present the Budget early as the implementation date of the Goods and Services Tax (GST) has been fixed at April 1, 2017.
Image: Wikimedia Commons
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
