India Inc has an impressive report card to show for the first quarter of this financial year.
Sensex ends belowe 26,800 on domestic concerns.
Pressure on the government increased with the Reserve Bank of India's surprise move on Thursday to cut interest rates
'The market position from here on is expected to go up'.
Telecom shares rallied on hopes that they would hike tariffs after huge investments to acquire spectrum.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
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