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Sensex breathes 205 pts sigh on GAAR clarity; rupee spikes

The BSE Sensex showed smart recovery on Tuesday after CNBC-TV18, citing unnamed finance ministry officials, reported the government would not target the participatory notes under its newly proposed General Anti-Avoidance Rule (GAAR).

Overall the day was quite choppy ahead of F&O expiry on Thursday. The 30-share BSE Sensex rose 204.58 points or 1.20%, to close at 17,257.36 after hitting an intraday high of 17,366.84 and low of 17,061.16.

Why market shakes every time the taxman shouts 'GAAR'

The BSE Sensex rose 1.3% on Tuesday, helped by short covering ahead of March contracts expiry, onCNBC-TV18 reports , citing finance ministry sources, that the government would not target the so-called participatory notes in a blanket manner under its newly proposed rules targeting tax avoidance.

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Market Updates : 

Marathon Nextgen Realty clocked volume of 5.74 lakh shares by 12:50 IST on BSE, a 696.14-times surge over two-week average daily volume of 1,000 shares. The stock rose 3.5% to Rs 158.

Carborundum Universal notched up volume of 5.81 lakh shares, a 58.32-fold rise over two-week average daily volume of 10,000 shares. The stock rose 0.92% to Rs 154.10.

CORE Education & Technologies clocked volume of 2.38 lakh shares, a 37.86-fold rise over two-week average daily volume of 6,000 shares. The stock lost 1.45% to Rs 276.05.

Trent clocked volume of 1 lakh shares, a 35.94-fold surge over two-week average daily volume of 3,000 shares. The stock rose 0.2% to Rs 911.25.

Cummins India clocked volume of 1.44 lakh shares, a 12.31-fold rise over two-week average daily volume of 12,000 shares. The stock lost 1.67% to Rs 456.70.

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