Vinod Nair, Head of Research, Geojit Financial Services
The outcome from GST council will decide the trajectory of some sectors like Consumer durables, Auto ancillaries, Infra and building products. Whereas, weaknesses in global market and rising oil prices may push investors to turn conservative on the board market.
3:50 PM
Sectoral trend
Source: NSE
3:43 PM
Sensex heatmap at close
Source: BSE
3:40 PM
Markets at close
The S&P BSE Sensex ended at 33,314, up 63 points, while the broader Nifty50 was ruling at 10,321, up 12 points.
3:29 PM
Top five gainers on Nifty
Source: NSE
3:11 PM
Markets check
At 3:05 pm, the S&P Sensex was trading at 33,231, down 19 points, while the broader Nifty50 was ruling at 10,294, down 14 points.
3:05 PM
177 items to become cheaper as GST Council decides to trim 28% slab
In the first half of the meeting taking place in Guwahati, the Council decided to trim the 28 per cent slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the GST implementation on July 1. READ FULL REPORT
2:57 PM
Mahindra & Mahindra Q2 profit beats estimates
Mahindra & Mahindra reported a 25 per cent jump in quarterly profit, beating street estimates. Net profit for the quarter ended September 30 rose to Rs 1,332 crore ($204.73 million) from Rs 1,067 crore in the year-ago quarter. READ FULL REPORT
2:27 PM
Buzzing stock
M&M Board approves 1:1 bonus issue. The stock trades over 2% higher at Rs 1394.
2:15 PM
SBI gains 7% post Q2
State Bank of India (SBI) has moved higher by 7% to Rs 338, bouncing back 8.5% from intra-day low on the BSE, after the bank’s assets quality in September quarter (Q2FY18) improves on sequential basis. The stock hit a low of Rs 310 in intra-day trade. READ MORE
2:05 PM
GST Council Meet update
Only 50 items remain in the 28% slab: Chewing Gum, Chocolates, Detergent, granite, marble now in 18% slab
1:57 PM
Interview of the day
State-run Hindustan Petroleum Corporation (HPCL) is approaching a new era in its history with the Oil and Natural Gas Corporation (ONGC) set to grab a majority stake in the company. In this backdrop, HPCL Chairman and Managing Director M K SURANA talks to Business Standard about the current global pricing scenario, the scope of a Mangalore Refinery and Petrochemicals Limited (MRPL) acquisition after the ONGC deal, and the company's expansion plans.
SBI made Rs 16,175.20 crore worth of provisions for non-performing assets, which was higher than Rs 12,125.26 crore provisions it made in June quarter and Rs 7,669.66 crore provisions in year-ago quarter.
1:12 PM
SBI Q2 earnings
Net interest income (NII) came in at Rs 18,595 crore
The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6% post its September quarter numbers. Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight and Tata Motors slipped after the auto major said its British unit faced intensifying competition.
Investors also took cues from the Goods & Services Tax (GST) Council meeting. The Council decided to trim the 28% slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the GST implementation on July 1.
Meanwhile, the Index of Industrial Production (IIP) will also be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.
 "Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates")
