Sensex turns negative after 200-point rally

In a highly volatile trading session, the BSE Sensex dipped over 60 points after surging by more than 224 points in early morning trade with markets showing signs of uncertainly after the Rajya Sabha yesterday passed the historic GST bill. Selling was seen in consumer durables, oil & gas, banking, FMCG, teck and IT sector stocks, dragged the down key indices. The 30-share barometer resumed higher at 27,899.88 and advanced to 27,921.91 but succumbed to widespread profit-booking and was quoting 64.40 points, or 0.36 per cent down at 27,633.11.

The gauge had lost 511.09 poins in the previous four straight sessions.

The 50-share Nifty was also trading lower by 25.35 points, or 0.29 per cent, at 8,519.50 after climbing to 8,601.40. Laggards were Lupin, ICICI Bank, Reliance Industries, Infosys, ITC Ltd, Cipla, HDFC Ltd, Bharti Airtel, SBI and HDFC Bank. Overseas, Asian shares were mixed with Hong Kong’s Hang Seng rising 0.62 per cent, while Japan’s Nikkei shed 0.39 per cent in early trade today. Shanghai Composite Index fell 0.36 per cent.

US stocks ended higher 0.23 per cent yesterday.