Sensex trades flat, Nifty hovers around 10,300 in late morning

TIL Desk/Business/Mumbai/ 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 per cent. Major losers were Tata Motors 2.82 pct, Asian Paint 2.58 pct, Tata mtrdvr 1.73 pct, Adani ports 1.35 pct, Reliance 1.23 pct and Coal India 1.13 pct. Gainers include L&T 3.79 pct, ITC 1.67 pct, ICICI Bank 1.22 and ONGC 0.90 pct.