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( 06 Nov 2017)
Sensex, Nifty choppy; M&M, ONGC top gainers

Indian benchmarks have recovered losses in late morning deals, backed by banks, FMCG and auto stocks. Traders remained on sidelines ahead of GST Council meeting, slated later during the week which is expected to consider lowering of the 28 percent GST rate on certain common use items. However, losses remained capped, as some solace came with report that government could consider a proposal to stagger deadlines for filing of monthly returns under the Goods and Services Tax for small and large firms. The move would ensure that the rush towards the last few days gets partly dissipated and leads to lower burden on the IT systems as well that often leads to large delays in uploading of returns and invoices.

At 11:20 hours, the 30-share benchmark index was trading at 33691.76 up by 6.2 points or by 0.02 per cent, while the NSE Nifty was at 10448.9 down by 3.6 points or by 0.03 per cent.

In the choppy trade so-far, Sensex touched intraday high of 33712.29 and intraday low of 33582.38 The NSE Nifty touched intraday high of 10453.25 and intraday low of 10413.75.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 256.05,+3.71%), Mahindra & Mahindra Ltd. (Rs. 1370.00,+2.92%), Oil And Natural Gas Corporation Ltd. (Rs. 196.55,+2.72%), Tata Motors Ltd. (Rs. 455.60,+1.95%), Maruti Suzuki India Ltd. (Rs. 8325.95,+1.33%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 545.00,-1.30%), Bharti Airtel Ltd. (Rs. 534.55,-1.26%), Kotak Mahindra Bank Ltd. (Rs. 1004.05,-1.14%), Reliance Industries Ltd. (Rs. 936.80,-0.93%), Asian Paints Ltd. (Rs. 1162.70,-0.91%), among others.

Among the sectors, CDS index was at 19955.63 up by 1353.41 points or by 7.28%. Titan Company Ltd. (Rs. 763.00,+15.71%), PC Jeweller Ltd. (Rs. 374.50,+5.85%), Crompton Greaves Consumer Electricals Ltd. (Rs. 221.65,+2.26%), Nilkamal Ltd. (Rs. 1624.90,+0.80%), Bajaj Electricals Ltd. (Rs. 396.75,+0.79%),.

On the flip side, il&Gas index was at 16465.26 down by -58.79 points or by -0.36%. Hindustan Petroleum Corporation Ltd. (Rs. 433.70,-2.57%), Bharat Petroleum Corporation Ltd. (Rs. 522.30,-2.15%), Indian Oil Corporation Ltd. (Rs. 406.50,-1.39%), Reliance Industries Ltd. (Rs. 936.80,-0.93%), Indraprastha Gas Ltd. (Rs. 1566.00,-0.57%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2667 , shares advanced were 1453 while 1075 shares declined and 139 were unchanged.