Sensex Opening Bell: Stock market strong; Sensex rises 200 points, Nifty close to 25000
New Delhi| The return of strength in the US stock market had a positive impact on the Indian stock market and on Tuesday also major benchmark indices were seen trading on the green mark. In early trade, Sensex rose by 200 points while Nifty reached close to 25000. However, after gains in early trade, selling was seen in Sensex and Nifty.
Power Grid, Divi’s Lab, Bharti Airtel and Apollo Hospitals were the biggest gainers in Nifty and each of them gained up to 1-2%. Shares in the insurance sector SBI Life, HDFC Life and Star Health-seemed to be trading down by around 2% after the GST Council announced not to immediately reduce GST on insurance premiums and set up a new GOM to review rates.
Shares of Namkit manufacturers such as Bikaji Foods, Gopal Snacks and Pratap Snacks jumped up to 9% after the GST Council recommended reducing the tax rate on snacks from 18% to 12%. On the sectoral front, Nifty Media and Healthcare showed growth of over 1%, while Realty, Pharma and IT grew between 0.5% and 1%.
