Markets close in negative territory on Thursday
Key stocks that gained on Thursday were Infosys, ONGC, Maruti, Cipla and Hero while Adani Ports, HDFC, Reliance, ICICI Bank and Tata Motors were some of the key stocks that ended as losers.
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, on Thursday, approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme.
For the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.
Additionally, charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.
The market also chose to remain cautious after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year, according to media reports.
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