Share Market LIVE: Sensex, Nifty subdued; FM proposes to consider rationalisation of GST rates once a year

Share Market Today, Share Market Live

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty were trading in negative territory, down over half a per cent in the afternoon deals on Monday. S&P BSE Sensex was trading 231 points or 0.56 per cent down at 40,911 points. Heavyweights like RIL, M&M, Tata Steel, HDFC Bank were the top contributors towards today’s fall. At the index level, Bajaj Finance (up 0.93 per cent), TCS, HDFC, ICICI Bank, Asian Paint were the top gainers on the Sensex, while Tata Steel (down 6.18 per cent), M&M, and Sun Pharma were the top laggards. The Nifty 50, on the other hand, was ruling at 12,023, down 75 points or 0.62 per cent. All the key sectoral indices were trading in the negative territory. Nifty Metal index, top loser, was down 3 per cent weighed by Tata Steel, SAIL and Hindalco.

Finance minister Nirmala Sitharaman on Sunday said the government has ‘literally’ proposed to the GST Council to consider rationalisation of GST rates once a year and not every three months as was the trend so far. “In GST, you have entered into a certain level of rates. Every change in it leads to refund issues. We have discussed in the GST Council, and now we literally proposed to the GST Council, not formally, it is a part of our small discussion, we said that can we consider a situation where once a year alone you do any rate rationalisation, reduction or increase. Not every three months,” the finance minister said.