Indian benchmark indices end lower on Friday
BSE Sensex was down 329.26 points at 26230.66 and NSE Nifty was down 106.10 points at 8086.80.
Some of the key stocks that gained on Friday were Bajaj Auto, Hero Motocorp, Cipla, UltraTech Cement, Idea Cellular and ICICI Bank while some of the key stocks that declined were HDFC, ITC, Tata Motors, Maruti Suzuki, Asian Paints, ZEEL and Adani Ports.
The market stabilisation scheme (MSS) announced by the Reserve Bank of India (RBI) on Friday failed to stem the decline.
To manage the surplus liquidity in the wake of the demonetisation of rupees 500 and 1,000 notes, the Union government, on Reserve Bank of India's (RBI) advice, on Friday raised the ceiling for issue of securities under MSS to Rs 6,000 billion, according to reports.
Investors also fear the implementation of the Goods and Services Tax (GST) might be delayed, media reported.
The RBI's Monetary Policy Committee (MPC) will meet on Dec 6 and 7, 2016 for the Fifth Bi-monthly Monetary Policy Statement for 2016-17.
Image: Wikimedia Commons
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