(Eds: Changing stock position in para 7) Mumbai, Nov 9 (PTI) Stocks got back to consolidation modein a see-saw session today as the Sensex closed high after twosessions of fall, ahead of the outcome of the GST Council meetamid a good set of earnings from Tata Motors.
Expectations that the GST (Goods and Services Tax)Council may offer relief to some sectors through reduction intax rates at its meeting on Friday supported the rebound,traders said.
The 30-share Sensex, which had lost 512.38 points in theprevious two sessions, edged up 32.12 points, or 0.10 percent, to close at 33,250.93 after trading between 33,463.80and 33,111.54.
During the day, the benchmark swung almost 350 points(both sides).
The 50-share NSE Nifty ended flat, up 5.80 points, or0.06 per cent, at 10,308.95. Intra-day, it touched a high of10,368.45 and a low of 10,266.95.
"Renewed buying in consumer durables restricted furtherfall in the market on expectations of reducing taxes forproducts coming under 28 per cent GST tax bracket. Albeit,investors are watchful ahead of key domestic macros CPIinflation and IIP data and global oil price fluctuation to getthe direction," said Vinod Nair, Head of Research, GeojitFinancial Services.
Asian Paints was the topper surging 2.08 per cent,followed by ICICI Bank.
Tata Motors ended up 0.36 per cent at Rs 440.30 after thecompany today reported a three-fold jump in consolidatedprofit for the quarter to September.
Asian markets were indecisive and European shares turnedlower.
Domestic institutional investors (DIIs) purchased sharesworth a net Rs 3,038.16 crore while foreign portfolioinvestors (FPIs) sold equities worth a net Rs 3,838.27 croreyesterday, provisional data from stock exchanges showed.
Airtel, Tata Steel, Reliance Industries, HindustanUnilever, SBI, NTPC, Dr Reddy's, Adani Ports, Bajaj Auto,Wipro, Infosys and TCS posted moderate gains.
However, ITC, Coal India, ONGC, Lupin, HDFC, Cipla, AxisBank, Hero MotoCorp and Kotak Bank remained under pressure,down up to 2 per cent.
While consumer durables advanced the most by 3.23 percent, followed by power, banking, metal and capital goods,healthcare, auto and FMCG ended in the red.
Broader markets put up somewhat a better show, with BSEmid-cap and small-cap indices jumping up to 0.98 per cent. PTISUN KPS DP SDG ARDARD.
This is unedited, unformatted feed from the Press Trust of India wire.