NIFTY AT RECORD HIGH, OPENS ABOVE 9200;SENSEX SOARS 200 PTS | SHARE MARKET NEWS UPDATE REPORT 17 MARCH 2017.

Benchmark indices extended previous day's rally on Friday, with the Nifty hitting a record high of 9200 in opening following clearance to all five laws by GST Council.

The 30-share BSE Sensex was up 202.64 points or 0.68 percent at 29,788.49 and the 50-share NSE Nifty rose 45.05 points or 0.49 percent to 9,198.75.

ITC surged 4 percent after brokerages are upbeat on the stock. TCS, Asian Paints, Wipro, Lupin, M&M, Power Grid and Tata Steel were other early gainers while L&T, GAIL, Tech Mahindra, BPCL and HDFC were under pressure.

The Goods and Services Tax (GST) Council, headed by Finance Minister Arun Jaitley, on Thursday approved the remaining two crucial supplementary bills — State GST (SGST) and Union Territory GST (UTGST) - moving the proposed July 1 implementation of the country's biggest tax reform closer to reality.

Final drafts of the three other bills — Integrated GST (IGST), Central GST (CGST) and Compensation bill — had been cleared by the Council in its previous meetings.

The Indian rupee opened marginally lower at 65.45 per dollar today against previous close of 65.41.

Ashutosh Raina of HDFC Bank said, "The US rate hike, accompanied by dovish commentary, resulted in dollar sell-off, with dollar index settling close to 100. The resultant appreciation in the USD-INR pair has been pretty sharp, breaching major technical supports, and settling close to the 65.50/dollar level."

He expects the pair to consolidate around current levels, although the appreciating bias could continue, with RBI expected to limit volatility.

The dollar remained under pressure, wallowing at five-week lows and on track for weekly losses after the US Federal Reserve signaled fewer interest rate hikes than some investors had expected.

Asian markets traded sideways, following a flat to lower close on Wall Street, in a light regional data day.