On the tail of bearish indications from other Asian markets, Indian equity benchmarks traded around their intraday lows but slightly recovered in the mid-day session. Traders were wary, citing research that said the present price situation leaves little room for rationalising GST rates on products and services.

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Asian markets were trading mostly in red with Taiwan Weighted dropping 108.59 points or 0.67% to 15,995.44, Nikkei 225 slipped 41.14 points or 0.15% to 26,636.66, Hang Seng decreased 25.47 points or 0.13% to 20,145.80 and KOSPI fell 4.48 points or 0.17% to 2,612.74. On the flip side, Shanghai Composite gained 20.35 points or 0.65% to 3,127.81 and Straits Times advanced 26.02 points or 0.82% to 3,205.60.

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Sensex is presently trading at 53,921.04, up by 171.78 points or 0.32% after trading in a range of 53,425.25 and 54,102.36. There were 18 stocks advancing against 12 stocks declining on the index.

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The broader indices were trading in red with the BSE Midcap index being down by 0.83%, while the Small cap index was down by 1.30%. The top gaining sectoral indices on the BSE were Bankex up by 0.35%, IT up by 0.21%, TECK up by 0.18% and Metal up by 0.11%, while Power down by 2.45%, Utilities down by 2.44%, Oil & Gas down by 1.85%, Energy down by 1.82% and Industrials down by 1.78% were the top losing indices on BSE.

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The top gainers on the Sensex were HDFC Bank up by 1.21%, HDFC up by 1.04%, Axis Bank up by 0.93%, TCS up by 0.74% and Wipro up by 0.70%. On the flip side, Bajaj Finance was down by 2.66%, ITC down by 2.64%, Asian Paints down by 2.61%, Larsen & Toubro down by 2.42% and Reliance Industries down by 2.26% were the top losers.

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Nifty is currently trading at 16,080.55, up by 54.75 points or 0.34% after trading in a range of 15,903.70 and 16,129.90. There were 29 stocks advancing against 21 stocks declining on the index.

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The top gainers on Nifty were HDFC Bank up by 1.22%, JSW Steel up by 1.14%, Tata Steel up by 0.95%, Axis Bank up by 0.95% and Nestle up by 0.93%. On the flip side, Adani Ports & SEZ down by 4.20%, UPL down by 3.71%, BPCL down by 3.57%, Apollo Hospital Ent. down by 2.82% and Bajaj Finance down by 2.82% were the top losers.