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Sensex opens flat, Nifty holds above 8,880

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Key benchmark indices on Tuesday opened on flat note with small gains in early trade. At 10:15 am, the S&P BSE Sensex, was up 17.15 points or 0.06% at 28,678.73. The Nifty50 index was currently up 9.15 points or 0.10% at 8,888.35. In the broader markets, the BSE Mid-Cap index was currently up 0.51%. The BSE Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Infosys is the top Nifty gainer in the morning hours on Tuesday’s trading session. Infosys was trading at Rs 1021.85 share apiece, up by 1.15%. About 863  stocks advanced, 502 stocks  declined and 414 unchanged stocks on NSE in the morning hours.

Asian Paints, ONGC, L&T, SBI and Axis Bank were gainers among others, while HDFC Bank, ITC, Bharti Airtel, Maruti and Cipla were under pressure.




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FM Arun Jaitley announced a number of steps in the Union budget to draw funds from foreign portfolio investors (FPIs). The proposals include an exemption from the provisions of indirect transfer tax for category I & II FPIs. The indirect tax provisions will still apply to category-III FPIs like corporate bodies, trusts and family offices. Category-I FPIs include foreign central banks, sovereign wealth funds and government agencies. The category-II mutual funds and banks. However, hedge funds, individuals and other high-risk foreign investors will not get this relief.


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Mid-Cap & Small-cap indices have staged a sharp recovery since demonetization. The BSE Small-cap index has gained 11.8 percent, and the BSE mid-cap index has gained 11 percent since December 26, 2016. The BSE Sensex, which had hit a low of 25,807 points on December 26, has advanced 6.2 percent to 27,411 levels since then.

Between November 8 (when demonetization was triggered) and December 26, the BSE Mid-cap and Small-cap indices lost 11.5% and 11.2% respectively. However, it is expected that both Mid-Cap and small-cap stocks to remain upbeat at least till the Budget presentation.