Equity Markets Close With Gains Ahead Of GST Launch

Commenting on the movement of the NSE Nifty, Vijay Singhania, Founder, Trade Smart Online, said: "The 51-stock index fell 1.04 pct during the month of June, the biggest monthly decline in seven months. The reason for the sell-off is clear.

"With valuation over-stretched, market is now facing selling pressure on lack of new growth triggers. We believe that GST could be one of the hooks that the market will justify for correction to set in," he added.

Sector-wise, the S&P BSE consumer durables index surged by 324.03 points, the FMCG index by 228.50 points and the healthcare index by 205.84 points.

On the other hand, the S&P BSE automobile index fell by 75.15 points, the energy index by 14.95 points and the realty index by 10.38 points.

"The street was cautious ahead of GST implementation but over 50 stocks hit a 52-week high. With the first half of 2017 over, around 100 stocks more than doubled wealth rising up to 700 pct," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

"Top gainers in the NSE were Bank of Baroda, ITC, Sun Pharma, Cipla and Auro Pharma while Tata Motor (DVR), TechM, Tata Power, HDFC and Indiabulls Housing Finance were top losers. All eyes are on the GST roll out in Parliament tonight."

Major Sensex gainers on Friday were: ITC, up 4 pct at Rs.323.85; Sun Pharma, up 2.97 pct at Rs.554.50; Tata Steel, up 1.80 pct at Rs.544.35; Cipla, up 1.76 pct at Rs.554.35; and Dr. Reddy's Lab, up 1.59 pct at Rs.2,688.50.

Major Sensex losers were: Tata Motors (DVR), down 2.10 pct at Rs.263.30; Hero MotoCorp, down 1.25 pct at Rs.3,672.65; ICICI Bank, down 1.23 pct at Rs.290.10; HDFC, down 0.96 at Rs.1,616.35; and Reliance Industries, down 0.91 pct at Rs.1,380.25.

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