Markets open in the green, crucial GST council meeting today
Oct 12, 2020
Mumbai (Maharashtra) [India], October 12 : Equity benchmark indices were up with a slight positive bias on Monday ahead of crucial Goods and Services Tax (GST) Council meeting to be chaired by Union Finance Minister Nirmala Sitharaman.
At 10:10 am, the BSE S&P Sensex was up by 219 points or 0.54 per cent at 40,728 while the Nifty 50 gained by 67 points or 0.57 per cent at 11,981.
Among stocks, ITC rose by 3.78 per cent. Kotak Bank was up by 1.90 per cent and Infosys by 1.74 per cent. However, the stocks trading with a negative bias were JSW Steel, Tata Motors, GAIL, Tata Steel and Heromotocop.
Finance Minister Nirmala Sitharaman will chair Goods and Services Tax (GST) Council meeting through video conferencing on Monday. The meeting is scheduled to take place at 4 pm.
The Minister is also scheduled to address a press conference on economic issues at 12.30 pm today.
On October 5, the GST Council at its 42nd meeting had decided to extend the levy of compensation cess beyond the transition period of five years for such period as may be required to meet the revenue gap.
