Wednesday, 29 March 2017

OPENING BELL >> Market To Trade Range Bound With Positive Bias

Yesterday, Indian Benchmark Index Nifty traded in a lackluster manner in a narrow range of 30 points from 9080 to 9110. The Index opened gap-up by 35 points at 9082 and closed at 9100. Arun Jaitley gave the following commented on GST: 

• GST bill is expected to get passed in parliament on 12th April and impose taxes from 1st July. 

• The Tax will include tax slab of 5, 12, 18 and 28. Maximum capping to the structure is 40% to cater financial emergency. 

• Finance Minister expects to meet again on 31st March to approve the item in each category.

Bank Nifty too traded in a narrow range of 120 points from 21265 to 21145. The Index opened at 21229 and closed at 21225.

Small cap index is trading in a narrow range of 150 points from last 8 trading session from 6750 to 6880 closed at 6844.

Nifty Future is opening at 9142 as per SGX Nifty at 8:20 am IST, 12 point below its previous close of 9154.70.

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