Nifty pares gains after hitting its record 9200-mark; ITC top gainer

The Nifty50 hit a fresh record high on Friday to open above 9,200-mark for the first time ever after the The goods and services tax (GST) council cleared the two supporting Bills - State GST Bill and Union Territory GST (UTGST) Bill - setting the stage for implementing the landmark tax reform by July 01. The Nifty index rose as much as 64 points to 9,218, surpassing its previous all-time high of 9,158 hit in the previous session. The S&P BSE Sensex, on the other hand, gained as much as 239 points to 29825. The 30-share index is over 200 points away from its lifetime high of 30,025, hit on March 2015. At 11:10 am, the Sensex was trading at 29,684, up 99 points, while the broader Nifty50 was ruling at 9,162, up 8 points. In the broader market, the BSE Midcap and BSE Smallcap indices also hit their respective record highs to gain 0.3% each. Astrology and Numerology Trading Tips

"Going forward, we would expect the optimism to continue in the market and expect the Nifty to keep marching higher, first towards 9,200 and then towards our near-term target of 9,400-9,600 over the next few weeks. On the downside, yesterday’s gap area of 9,107-9,129 would act as a strong support zone," said Angel Broking in a technical note. Meanwhile, snapping its four-session long gains, the rupee fell 24 paise to 65.65 against the dollar today as the American currency got some of its lure back among banks and importers. Commodity Trading Tips