After a not so good day yesterday, the market faired slightly well to recover from the losses it experienced yesterday. At the end of the trade today, the BSE Sensex traded 258 points higher than the previous close to end at 31,646 points.
Though a majority of stocks traded and closed in green today, there were a few which closed below their last traded price of Monday. The list was headed by M&M, NTPC and Cipla.
M&M ended in red on both exchanges after the increased cess ordinance was cleared by the government. Vehicles with higher capacity will now attract 53% in total tax and that might impact M&M sales in the longer run. At the end of the day, M&M traded at ₹1360.10, down 128%. NTPC continued to get impacted by government’s decision of disinvestment by selling 10% share and ended the day at ₹168 (down 0.30%). Cipla was a victim of the slow growth in the pharma sector and closed 0.19% below the last trade price.
The list was followed by Dr Reddy’s Labs and Infosys, which were down by 0.16% and 0.10% respectively.