The GST Council last year imposed a cess of 15 per cent on hybrid vehicles, in addition to the 28 per cent GST, leading to a total tax burden of 43 per cent against a previous tax rate of 28 per cent.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Commercial vehicles however declined by 2.83%
Big brands like Hyundai, Mahindra and Mahindra (M&M), Toyota and Renault have lost share.
Sales of commercial vehicles rose 5.30 per cent to 52,481 units in January this year, SIAM said.
The S&P BSE Sensex plunged 128 points to end at 25,102.
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
Top companies added employees at 3% CAGR from 2003-04 to 2013-14, while revenues grew at 18%.
Benchmark indices plunge 4.7% in the first full week of 2016.
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Arvind Kumar Sharma, a 1988-batch IAS officer and one of the many joint secretaries in PMO, definitely wields some power.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
Going by the current pace, IT firms are likely to exceed the manufacturing sector in salary payouts over the next five years.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
The inaugural Formula E race in Hyderabad is scheduled for February 11 next year, joining the likes of New York, London and Rome on the calendar.
The 50-issue Nifty fell 29.60 points or 0.34 per cent to close at 8,642.55
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
The recovery was led by information technology exporters.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
Tata Steel was the day's worst performer in the Sensex pack, plunging 3.25 per cent, followed by Bharti Airtel at 3.05 per cent.
Property markets in Uttarakhand and Himachal Pradesh, which have had a dream run in recent years, are set to face a downturn.
The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Oil tanked to a 7-year low as OPEC decided to maintain production.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
Oil & gas, banking and pharma sector stocks stole the show
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
Indian CEOs might like to make some serious course correction.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
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