Sensex ends 64 points higher; Nifty settles at 10322

Indian shares ended a choppy session slightly higher on Friday after the GST Council pruned tax rates on many mass consumption items such as chocolates, shampoo, detergents, nutrition drinks, marble and cosmetics.

The index finally settled at 33,370.76 points, down by 360.43 points, or 1.07 per cent over its last close.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent and in close reach of a 10-year high set the previous day.

Asian shares paused at decade peaks and the dollar dipped on Wednesday amid concerns Republican plans for major USA tax cuts were running into headwinds even before the Senate releases its own version of the proposals.

Taiwan too fell 0.20 per cent but Shanghai Composite Index inched up 0.06 per cent.

"Except IT (up 0.32 per cent), all the sectoral indices traded in the negative territory led by metal, which fell 1.84 per cent, followed by energy 1.65 per cent, telecom 1.62 per cent and basic materials 1.44 per cent", he added.

Vinod Nair, head of research, Geojit Financial Services, said: "Market showed signs of consolidation as investors took one step back from riskier assets due to rising oil price and the resultant impact on inflation and deficit".

On the other hand, the S&P BSE IT index rose by 41.50 points and Teck (technology, media and entertainment) index by 5.56 points. The rupee opened at 65.07 a dollar and was trading at 65.08 against the dollar.

Foreign portfolio investors (FPIs) net purchased shares worth Rs 461.47 crore Tuesday, as per provisional data.

Nearly half of the stocks traded in green with Axis Bank, Asian Paints, Cipla and Sun Pharma posting gains to the tune of 3.41%, 2.51%, 2.07% and 1.89%, respectively.

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