Mumbai, May 19 (PTI) The NSE Nifty ended steady after

paring initial gains as GST euphoria was short-lived.

The benchmark NSE index closed the day at 9,427.90, down

1.55 points as investors deemed it fit to book profits sensing

upbeat market after GST council fitted in bulk of the items in

the four slab rate structure during its two-day meet.

The market opened with gap up but could not sustain its

higher level of 9,505.75 due to volatility as profit-booking

also marked intra-day low of 9,390.75. Towards the fag-end of

the session, it recovered and finally closed with marginal

loss.

FMCG sector stocks were in focus today as the GST council

approved tax rates for various products late yesterday.

Country’s largest lender SBI shares gained 1.67 per cent

after its net profit more than doubled to Rs 2,814.82 crore

for the March quarter.

Nifty resumed higher 9,469.90 and hovered between a high

of 9,505.75 and low 9,390.75 before closing at 9,427.90,

showing a marginal loss of 1.55 points, or 0.02 per cent.

Nifty had lost 96.30 points, or 1.01 per cent, in the

previous session.

Overseas, Asian markets gained after a sluggish start on

strong US economic data overnight as some risk appetite

returned despite caution over political turmoil in the US.

European markets were trading higher as German producer

prices posted their strongest annual gain in over five years

in April.

Sector-wise, Nifty FMCG surged by 2.05 per cent, followed

by PSU banks 0.84 per cent, bank 0.31 per cent, private banks

0.17 per cent and infra 0.14 per cent.

While, media fell 0.95 per cent, IT 0.75 per cent, energy

0.75 per cent, commodities 0.55 per cent and auto 0.25 per

cent.

The broader midcap and smallcap shares underperformed

the key indices sliding 0.60 percent and 0.77 per cent,

respectively.

Major index losers were Asian Paint 2.45 per cent, BPCL

1.74 per cent, Hndalco 1.55 per cent, EicherMot 1.49 per cent

and TechM 1.46 per cent.

Notable gainers were ITC up by 2.99 per cent, Yes Bank

2.07 per cent, Axis Bank 1.97 per cent, HUL 1.79 per cent

and SBIN 1.67 per cent.

Meanwhile, FIIs sold shares worth net Rs 360.59 crore

yesterday, as per provisional figures issued by the stock

exchanges.

A total of 1,144 scrips declined, 545 advanced, while

72 remained unchanged. Total securities that hit their price

bands were 117.

Turnover in the cash segment rose to Rs 29,193.68 crore,

from Rs 28,180.87 crore yesterday.

A total of 15,081.10 lakh shares changed hands in

10,745,015 trades. The market capitalisation of listed firms

stood at Rs 12,379,469 crore.

This is published unedited from the PTI feed.