Sensex ends slightly lower after choppy trade, Nifty holds 24,741;

RELIANCE

,

TATAMOTORS

gain 1% each

Indian benchmark indices, Sensex and Nifty, closed almost unchanged on Friday as profit-taking in consumer and IT shares offset advances in auto stocks following sweeping tax cuts announced under the “GST 2.0” reform. The S&P BSE Sensex dipped 7.25 points, or 0.01%, to finish at 80,710.76, while the NSE Nifty 50 inched up 6.70 points, or 0.03%, to close at 24,741. On a weekly basis, both benchmarks registered gains, with the Sensex rising 1.3% and the Nifty 50 up 1.1% after the GST Council slashed duties on essential goods. Auto stocks spearheaded the advance, climbing 5.5% as tax rates on small cars, motorcycles, buses, trucks, and ambulances were reduced from 28% to 18%. Mahindra & Mahindra jumped 11.3%, posting its best week in 15 months and emerging as the top Nifty performer. Most sectoral indices ended the week in positive territory, except IT, which slipped 1.6%. Metals rallied 5.8% on optimism over China’s proposed steel capacity cuts, while consumption and consumer durables gained 2.6% and 3.2%, respectively, aided by GST relief. Broader small-cap and mid-cap indices also advanced about 2.5% each. Forex Update: The rupee touched a fresh record low of 88.36 against the U.S. dollar.