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Market open: Sensex, Nifty Open Higher,Realty Shares Rally

Market open: Sensex, Nifty Open Higher

Indian equity benchmarks opened higher following gains in their Asian peers after the U.S. President Donald Trump postponed the date for boosting tariffs on Chinese imports. The S&P BSE Sensex Index rose as much as 0.43 per cent to 36,027 and the NSE Nifty 50 Index rose as much as 0.32 per cent to 10,826.35.
The market breadth was tilted in favour of buyers. About 970stocks advanced and 459 shares declined on the National Stock Exchange. All the sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 2.1 per cent gain.

Realty Shares Rally



Realty Index Extend Rally On GST Relief - The NSE Nifty Realty Index extended gains for the sixth consecutive trading session, its longest gaining streak in nearly four months. This after the Goods and Services Tax Council approved lowering the tax rate on under-construction properties to 5 per cent without the input tax credit, from 12 per cent earlier, while the affordable housing projects will attract 1 per cent tax as against 8 per cent earlier.


STOCKS IN FOCUS

Realty stocks: The GST Council on Sunday slashed the GST rates on under-construction residential properties to 5 per cent without input tax credit (ITC), from the existing 12 per cent.

Jet Airways:  The crisis-hit airline said late on Friday that its shareholders approved a plan to convert existing debt to equity, paving the way for its lenders to infuse funds and nominate directors to its board.

Wipro: The IT services firm on Sunday said it has received approval from a majority of its shareholders for the issue of bonus shares and increase in authorised share capital.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 12 paise at 71.02 per dollar versus previous close 71.14.

Major gainers on the indices- Indiabulls Housing, JSW Steel, Yes Bank, Maruti Suzuki, Hero Moto, Tech Mahindra, Tata Steel, DLF, Sobha, Oberoi Realty, Sunteck Realty, GVK Power, Reliance Capital, Godrej Properties,while losers are Adani Port, Mindtree, Jet Airways, IIFL Holding and Motilal Oswal.


Sensex | Share Market | Real State Shares | Rupee Update
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Comments

  1. Vignesh15 June 2022 at 16:32

    The law is designed to prevent a person from using his authorised share capitalfor any purpose other than that for which it was originally issued.

    ReplyDelete

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