The key domestic benchmark indices were trading higher in the morning trading session as investors got some support with Central Board of Direct Taxes (CBDT) clarification that an increase in turnover of a business owing to its accepting digital means of payment will not trigger reopening of cases of past years.
Also, traders are expected to remain cautious ahead of key monetary policy meeting from the US Federal Reserve and surge in crude oil prices. The investors will also keep an eye on November CPI inflation which will be announced later in the day.
At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 26573.85 up by 58.61 points or by 0.22 per cent, while the NSE Nifty was trading at 8175.55 points, trading higher by 4.75 points or by 0.06 per cent.
The BSE Sensex touched an intraday high of 26611.81 and an intraday low of 26494.23 while the NSE Nifty touched an intraday high of 8200.95 and an intraday low of 8155.8
The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 465.70,+2.45 per cent), Wipro Ltd. (Rs. 461.45,+1.60 per cent), Maruti Suzuki India Ltd. (Rs. 5200.05,+1.05 per cent), ITC Ltd. (Rs. 234.70,+0.92 per cent), Reliance Industries Ltd. (Rs. 1035.50,+0.72 per cent), among others.
Meanwhile, Tata Steel Ltd. (Rs. 418.65,-1.26 per cent), Lupin Ltd. (Rs. 1487.45,-1.02 per cent), Asian Paints Ltd. (Rs. 902.85,-0.81 per cent), ICICI Bank Ltd. (Rs. 263.10,-0.59 per cent), Cipla Ltd. (Rs. 572.50,-0.32 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2014 shares traded, 1104 shares advanced, 824 shares declined while 86 were unchanged.
On the global front, Asian stocks were trading mixed today as traders remained focused on the outcome of the US Federal Reserve meeting. China’s Shanghai composite extended losses and Hong Kong’s Hang Seng was also under selling pressure. US stocks closed lower in the previous trading session as investors remained wary ahead of key monetary policy meeting from the US Federal Reserve.