BSE Sensex and NSE Nifty closed higher on Friday. Photo: MintMumbai: Markets closed with modest gains on Friday, giving a guarded response to the goods and service tax (GST) council’s decision to reduce tax rate on a host of daily-use items. For the week, the Sensex recorded a fall of 371 points, or 1.10%, and the NSE Nifty 130.75 points, or 1.25%. The GST Council on Friday provided some relief to several sectors by slashing tax rates on a host of consumer items—from chewing gums to detergents—to 18% from the current 28%. “The outcome of the GST Council will decide the trajectory of some sectors like consumer durables, auto ancillaries, infra and building products.

Source: Mint November 10, 2017 04:22 UTC