Profit booking pulls Nifty below 24,800 despite GST boost
Indian markets closed flat after early gains from GST reforms fizzled out. Nifty settled at 24,734, up just 19 points, as profit booking hit mid- and small-caps. Auto and FMCG stocks rose on tax cuts, led by M&M, Colgate and Britannia. Insurance stocks slipped on duty concerns, while Varun Beverages and Swiggy fell on tax hikes and fee increases.