Stock Market Today: Nifty, Sensex Nearly Erase Day's Gains As GST 2.0 Cheer Fizzles

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• Benchmarks outperform broader Markets

• Nifty fell over 1% from the day’s high after opening higher

• Nifty close on a flat note, fell 1.1% from the day's high.

• SBI Life Insurance and HDFC Life Insurance and Tata Consumer Products fell over 5% from the day high

• Insurance stocks pare the morning gains

• Tata Consumer Products, HDFC Life Insurance and Wipro fell the most in Nifty

• Nifty Midcap 150 snaps 3-day gaining streak, drag by Indian Overseas Bank, Cochin Shipyard and One 97 Communication

• Nifty Smallcap 250 snaps 3-day gaining streak, drag by Shipping Corp, TBO Tek and Data Patterns

• Nifty Midcap 150 fell over 1.7% from the day’s high

• Escorts Kubota, Star Health fell over 10% from the day’s high

• The New India Assurance fell over 6% from the day’s high

• Rupee closed 11 paise weaker at 88.18 against US dollar

• It settled at 88.07 on Wednesday

Source: Bloomberg

Swelect Energy appointed Arulkumar Pudur Shanmugasundaram as chief executive officer and managing director for five years, the company said in the exchange filing.

• Coal: GST rationalization marginally positive for end-users

• Aluminium: Neutral near-term and bullish medium-term

• Remain bearish on zinc as strong supply growth looks to shift the global market into surplus

• Gold and silver to continue marching higher

• Gold is likely to continue its march higher to $3,600/oz and expect silver to reach $43/oz

• Estimate that the removal of compensation cess on coal could lower the aluminium cost of production by 2-3% for aluminium producers

• Both Hindalco and Vedanta would gain