By Admin 
Stock market today: After the announcement of GST 2.0, the stock market started rapidly on the last trading day of the week. The BSE Sensex went up by 300 points, but soon the increase could not last and the Sensex closed 135 points at the end of the trading. At the same time, the Nifty 50 also came under pressure to below 24,700.
Dr. Vijay Kumar, the Chief Investment Strategist of Jijit Financial Services, says that the boom in the market was seen a day ago, it could not remain maintained this time.
Why the market slipped?
New GST rates are going to have a big impact on common consumer goods. Everyday items like roti, paratha, hair oil, ice cream and TV will be cheap. At the same time, personal health and life insurance premiums will not be taxed anymore. In GST, now only two slabs – 5 percent and 18 percent – have been implemented, which will be effective from September 22 i.e. from the first day of Navratri.
On Thursday, Mahindra & Mahindra shares recorded the highest gains of 5.96 percent among the Sensex companies. Shares of Bajaj Finance, Bajaj Finserv, Trent, ITC and HDFC Bank were also in profit. On the other hand, shares of Maruti Suzuki, India Electronics, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries closed in loss.
Why could the market not strengthen?
Research analyst and founder Hariprasad K. K.K. Said that the market started strong due to the hope of getting cheaper by new GST rates. But in the second part of the business session, profits ended the initial lead. He said that in early trade, the shares of vehicles, daily use items and durable consumer goods companies were good purchases, but profits put pressure on the major indices.
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