Stocks pared their early losses to trade flat in late morning session amid lower Asian cues on uncertainty in US tax reforms.
The benchmark BSE Sensex was marginally lower by 2.70 points at 33,248.23 at 1100 hrs with 16 components led by Tata Motors and Asian Paint trading in the negative.
The 30—share index resumed lower at 33,235.75 and hovered between 33,280.55 and 33.135.94 in morning trade.
Investors opted for wait and watch policy ahead of GST Council outcome providing relief to small businesses, also the Index of Industrial Production (IIP) numbers to be released today.
All the sectoral indices were trading mixed with selling in energy, healthCare, auto, IT and oil&gas and buying in realty, consumer durable, capital goods, industrials and power followed by secondline shares of midcap and smallcap counters.
The broader NSE Nifty trading at 10,305.85, down by marginal 3.10 points, or 0.03 %.
Major losers were Tata Motors 2.82 %, Asian Paint 2.58 % Tatamtrdvr 1.73%, Adaniports 1.35 %, Reliance 1.23 % and Coal India 1.13%.
Gainers include L&T 3.79 %, ITC 1.67 %, ICICI Bank 1.22 and ONGC 0.90 %.
Foreign portfolio investors (FPIs) sold shares worth a net ₹713.75 crore yesterday, as per provisional data released by stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 231.25 crore.
Overseas, Asian markets were trading lower on uncertainty about US tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas, including a delay in the timing of a corporate tax cut.
The US stocks closed lower yesterday with the Dow snapping a seven—day win streak on worries over a possible delay in much—anticipated corporate tax cut.
