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Markets open higher ahead of GST council meet

Goods and Services Tax (GST) Council is all set to meet on Friday to take up issues by several sectors related to reduction in the taxation.

Markets open higher ahead of GST council meet

New Delhi: Markets opened higher on Friday ahead of the crucial GST council meeting tracking global cues.

The BSE Sensex rose 66.52 points or 0.18 percent to 36,159.99 in early trade while the NSE Nifty edged higher by 9.05 points or 0.085 percent to 10,713.85.

Goods and Services Tax (GST) Council is all set to meet on Friday to take up issues by several sectors related to reduction in the taxation.

All eyes will be on the all powerful GST Council's decision on the automobile sector which has long been pressing for reducing GST on the sector. The industry has demanded that the GST should be brought down to 18 percent from 28 percent to reverse the consumption slowdown. Though sources told Zee Media that they are unlikely to get any respite this time as well.

Top gainers in the Sensex pack were Yes Bank, HDFC Bank, Maruti, M&M, HeromotoCorp, Bajaj Auto, Kotak Bank, HUL, ICICI Bank, IndusInd Bank, Tata Steel and Sun Pharma, rising upto 3.79 percent. On the other hand, shares of NTPC, ONGC, Powergrid, Tata Motors, SBI, Axis Bank, Asian Paint, TCS, HCL, Bharti Airtel, Tech Mahindra and HDFC, falling upto 2.01 percent.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.15% though it is on course to post its first weekly decline in five, hit by sizable losses in Hong Kong and India. Japan`s Nikkei rose 0.46%. The S&P 500 ended flat, staying than less than 1% below its closing record high hit in July, a Reuters report said.

With Agency Inputs