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Sensex Ends Lower Ahead Of GST Vote; Midcaps Slide


Benchmark indices ended the day lower, even as the GST was being debated and is all set to be passed in the Rajya Sabha.


Markets now seem to have discounted the passage of the GST Bill, worrying more on its implementation.

Sensex Ends Lower Ahead Of GST Vote; Midcaps Slide
The Sensex ended the day lower by 294 points, while the Nifty ended the day lower by 78 points.

Leading the set of losers were heavyweight ITC, which fell lower by 2 per cent. Other losers from the Nifty were Tata Motors and Reliance Industries.

Heavyweight, Reliance Industries also managed to drag the markets lower. Among the gainers in trade were pharma stocks like Cipla and Sun Pharma.

HCL Tech was clearly the star in trade with the stock jumping 3 per cent, after the company reported a good set of quarterly numbers.

Midcap stocks saw the biggest losses in trade with Godrej Industries dropping almost 4 per cent, while Adani Enterprises was also down 3 per cent, while Jubilant Foodworks were down 5 per cent each.

Shares in UFO Moviez fell after the company's Q1 consolidated net profit was down 44.6 percent at Rs 9.8 crore versus Rs 17.7 crore.


Banking stocks saw some selling pressure with ICICI Bank ending the day with losses.

Sun Pharma ended the day higher after group company Sun Pharma Global got US FDA nod for diabetes drug Metformin Hydrochloride.

Meanwhile, markets across Asia also ended the day lower, while European markets were showing some signs of recovery.

Read more about: sensex nifty
Story first published: Wednesday, August 3, 2016, 15:35 [IST]
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