Sensex opens strong, Nifty reclaims 8800

The 30-share barometer opened a shade higher and rose further before profit-booking kicked in, but settled at 28,335.16, a loss of 104.12 points, or 0.37 per cent.

With regard to global cues, firm trend in other Asian bourses, tracking overnight gains in the United States markets after President Donald Trump promised to release a much-anticipated plan for tax cuts soon, boosted the trading momentum here.

The key indices traded on a flat note - marginally in the green - as healthy buying was witnessed in banking, IT and consumer durables stocks.

ObamaCare plan could take until next year
When asked whether they approved or disapproved of Obamacare, Americans were split, as 45% approved and 46% disapproved. The ACA took these premium spikes into account, with subsidies to help pay for these increases included in the law.

The benchmark BSE Sensex rose 4.55 points or 0.02 percent to 28,334.25, while the broader-Nifty index finished 15.15 points or 0.17 percent higher at 8,793.55 ahead of December IIP data due out later in the day.

The market breadth is strong with 1180 strong advances and 660 declines, whereas 92 stocks remain unchanged on BSE. Intra-day, it traded between 8,809.30 and 8,741.05.

The BSE metal index took the biggest knock, down 1.25 per cent, followed by auto, oil and gas and healthcare.

United Kingdom retail sales 'slow in January'
Online sales accounted for the highest ever level of year-on-year non-food growth, at 2.9 per cent in the months to January. That's a contrast to the previous January when they rose by 14.9%, and is above the 12 month average of 9.5% growth.

Over the past four sessions, the index had risen 783.32 points.

Major Sensex losers were: Lupin, down 2.06 per cent at Rs1464.60; ITC, down 1.57 per cent at Rs 273.05; Gail, down 1.53 per cent at Rs 482.95; Dr Reddy's Lab, down 1.50 per cent at Rs 2975.20; and Cipla, down 1.30 per cent at Rs 579.35.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 201.13 crore yesterday, as per the provisional data released by the stock exchanges.

Guest Editorial…Keep the pressure on DeVos confirmation
DeVos , you failed miserably at your confirmation hearing, and I trust our senators will reject your nomination. Since Democrats lost their ability to filibuster presidential cabinet nominees, now they'll just talk.

Tata Steel was the top gainer on the Sensex on Wednesday.