Smallcaps, midcaps in favour
The market-breadth was strong in the face of a sheepish market due to strong buying for smallcap and midcap stocks. There were close to two gainers for every loser on BSE. Against 1,607 shares advancing, 836 declined on BSE. A total of 78 scrips remained unchanged.
At 1.05 IST the Sensex was down 113 points, at 13,901.50. It had opened firm, at 14,029.04, on reports that the Centre and states had agreed to phase out central sales tax (CST) over the next four years. It had surged to hit an all-time high of 14,060.35 in early trade. According to the agreement, CST, currently levied at 4%, will be cut by 1% every year for the next 4 years.The BSE clocked a turnover of Rs 2,450 crore.Among the 30- Sensex pack, 21 declined while the rest advanced.
ITC was the top loser, down 3.01% to Rs 170, on a high volume of 10.61 lakh shares.
Sesa Goa jumped 5.1% to Rs 1,574.10 following reports Arcelor Mittal has submitted a non-binding bid for a controlling stake in the iron ore exporter.
At 1.05 IST the Sensex was down 113 points, at 13,901.50. It had opened firm, at 14,029.04, on reports that the Centre and states had agreed to phase out central sales tax (CST) over the next four years. It had surged to hit an all-time high of 14,060.35 in early trade. According to the agreement, CST, currently levied at 4%, will be cut by 1% every year for the next 4 years.The BSE clocked a turnover of Rs 2,450 crore.Among the 30- Sensex pack, 21 declined while the rest advanced.
ITC was the top loser, down 3.01% to Rs 170, on a high volume of 10.61 lakh shares.
Sesa Goa jumped 5.1% to Rs 1,574.10 following reports Arcelor Mittal has submitted a non-binding bid for a controlling stake in the iron ore exporter.
posted by SY at 1:01 PM
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