Sensex rebounds 209 points as GST Council freezes tax rates

Riding on Modi euphoria and positive sentiment the Sensex jumped 26.78% while the Nifty was up 32.06% in three years ended 16 May 2017

It was quoting at 30,619.16 at 1100 hrs, showing a rise of 184.37 points or 0.61 per cent.

The company is selling shares between Rs 98 to 100 per share, and will become the second infrastructure investment trust to list in the country after IRB InvIT Fund had a tepid debut on Thursday. Japan's Nikkei 225 is trading in red, down by 1.65 per cent, Hang Seng down by 0.30 per cent while South Korea's Kospi was also down by 0.56 per cent.

The benchmark BSE index rose as much as 0.9 percent to a record high on Friday, scaling an all-time peak for the fourth time in five sessions, as consumer goods makers surged after the government finalised rates for its upcoming goods and services tax (GST). Sensex up 45 points at 30,480 and Nifty up 6 points at 9,435.

On Thursday, Asian indices were showing a negative trend.

The S&P BSE mid-cap index fell 0.72 per cent while the small-cap index declined 0.88 per cent. Gross non-performing assets as a percentage of total advances are likely to come in at 7.1 per cent compared with 7.2 per cent in the previous quarter.

BSE IT is the only sectoral index that closed in green.

Fabregas wants Chelsea to wrap up title in a hurry
Moments before Costa gave Chelsea the lead against Middlesbrough, Conte had directed his Spanish forward further up the field. Wenger pointed to the trend of the Premier League's top teams, and said a lack of European football also helped.

However, Asian Paints fell 2.43 per cent, Gail India 1.48 per cent, M&M 1.35 per cent, HDFC 1.16 per cent, TCS 1.08 per cent, Power Grid 1.06 per cent, Hero Motoco 0.96 per cent and Dr Reddy's 0.83 per cent.

The stock rose on impressive volumes today.

Other than locking in profit by investors, political as well as economic uncertainties stemming from US President Donald Trump's recent executive decisions had their bearing on the market direction.

Foreign portfolio investors (FPIs) were net sellers of Indian equities worth Rs 731 crore while domestic institutional investors ended up as net buyers of stocks worth Rs 615 crore according to provisional data published by the National Stock Exchange.

SBI gained 1.7 percent ahead of its quarterly results due out later in the day.

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