ITC, Cipla, HUL, ONGC and ICICI Bank are top gainers while Sun Pharma, Dr Reddy's Labs, L&T, Lupin and TCS are losers in the Sensex.
The market has opened in green reacting driven by gains in FMCG , majorly in ITC. The Sensex is up 38.30 points or 0.1 percent at 27468.58 and the Nifty is up 14.45 points or 0.2 percent at 8499.40. About 352 shares have advanced, 156 shares declined, and 43 shares are unchanged.
The GST council has finalised a four-tier GST tax structure of 5, 12, 18 and 28 percent. Essential items are to be taxed at 5 percent while white goods like TV and refrigerators may see some tax relief. The GST panel has also approved cess on tobacco, luxury products and sin items. This cess will not be additional and won’t add to states or consumers burden. Taxation on gold will be decided upon the revenue flexibility.
