Stock markets rebound as GST revenues hit record in April
The Hindu
Stock markets rebounded on Thursday with benchmark Sensex closing higher by 128 points.
Stock markets rebounded on Thursday with benchmark Sensex closing higher by 128 points as record GST collections in April, positive manufacturing data, and foreign fund inflows boosted investor sentiment.
The 30-share BSE Sensex climbed 128.33 points or 0.17% to settle at 74,611.11. During the day, it jumped 329.65 points or 0.44% to 74,812.43.
The NSE Nifty went up by 43.35 points or 0.19% to 22,648.20.
From the Sensex basket, Power Grid, Asian Paints, Tata Motors, Tata Steel, NTPC, Sun Pharma, Mahindra & Mahindra, HDFC Bank, Tata Consultancy Services and JSW Steel were among the major gainers.
Kotak Mahindra Bank, Bharti Airtel, Axis Bank, Wipro, ICICI Bank and IndusInd Bank were among the laggards.
Goods and Services Tax collections grew 12.4% to a record high of ₹2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday.
The GST collections have breached the ₹2 lakh crore mark for the first time in April this year, it said in a statement.
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