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Sensex Ends Lower; ITC Slumps 7%

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Benchmark indices ended the day lower once again in trade, led by a sharp fall in heavyweight ITC, after worries over the high rate of Sin Tax in the GST Bill.

The drop in the markets came despite a solid comeback rally across global markets, after the surge in US markets on Friday, following a robust jobs data.

The Sensex ended the day with losses of 108 points, while the Nifty fell 16 points in trade

Sensex Ends Lower; ITC Slumps 7%
ONGC, Coal India and Reliance Industries were the other losers in trade from the Nifty space. Shares in Sun Pharma staged a superb rally, following on Friday's gains, after a US FDA approval for one of its products.
 

Shares in TV Today rose as much as 6 per cent and touched a lifetime high on sustained buying support.

GMR Infra shares gained as much as 5 per cent after reports that Fairfax Holdings, Changi in talks to invest Rs 3200 crores for % stake in the company's airport business.

Mid cap stocks ended the day flat, though stocks like Voltas and Titan gained ground in trade. Banking stocks had a quiet session, though most of the stocks from the space ended the day with marginal losses.

Meanwhile, most of the Asian markets ended the day with gains with the Singapore Strait Times and the Japanese Nikkei among the top gainers in trade.

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