Opening bell: Nifty below 9900, Sensex loses 250 pts
On Tuesday Equity benchmarks opened sharply low, with the Nifty falling below 9900 level, dragged by ITC after cess on cigarette hiked by the GST Council.
The 30-share BSE Sensex was down 239.02 points at 31,835.76 and the 50-share NSE Nifty fell 56.55 points to 9,859.40.
ITC crumbled nearly 14 percent as brokerage houses downgraded the stock after the Goods and Services Tax (GST) Council decided to increase the cess on cigarettes. Other stocks like Godfrey Phillips (down 10 %) and VST Industries (down 5 %) also caught in bear grip.
HDFC, Infosys, TCS, Wipro and ACC gained up to 1.5 % while Bharti Airtel surged 5 %.
Shree Digvijay Cement, Linde India, Max Financial and Jubilant Foodwors lost up to 5 percent while Fortis Healthcare and Aditya Birla Nuvo gained up to 5 %.
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