Key indices pare early gains, end flat 

Registering a marginal gain of 16.86 points, BSE Sensex ended at 27,714.37 points. NSE Nifty closed at 8,551.10 points, a 6.25 points rise or 0.07 percent.  - Sakshi Post

Mumbai: The domestic bourses on Thursday witnessed narrow range of trading as the much-awaited GST Bill was already priced in, while gains in auto shares helped offset losses.

Registering a marginal gain of 16.86 points, BSE Sensex ended at 27,714.37 points. NSE Nifty closed at 8,551.10 points, a 6.25 points rise or 0.07 percent.

The key indices erased early gains after opening sharply higher earlier in the session. After a lengthy discussion on the amendments, Rajya Sabha late Wednesday passed the GST Constitutional Amendment Bill. The Rajya Sabha approved the crucial 122nd Constitutional amendment to turn the bill into law. The GST Bill was already approved by Lok Sabha in May.

The domestic bourses on Thursday witnessed narrow range of trading as the much-awaited GST Bill was already priced in, while gains in auto shares helped offset losses. Some buying activity is seen in realty, auto, metal, telecom, industrial and power sectors, while consumer durables, banking, IT, oil & gas, FMCG and telecom were showing weakness on BSE.

Opened 202.37 points higher at 27,899.88, Sensex recorded a high of 27,921.91 points and a low of 27,627.97 points during the intra-day trade.

BSE and NSE pared early gains and closed flat on concerns that implementation of the landmark GST Bill which is seen as a game changer for the economy will be challenging and near term growth could take a backseat.

Some buying activity is seen in realty, auto, metal, telecom, industrial and power sectors, while consumer durables, banking, IT, oil & gas, FMCG and telecom were showing weakness on BSE.

30 scrips reached their 52-week high in trades, while 21 stocks recorded a new 52-week low.

Analysts feel that the behavior of the markets over the past two days was sluggish. The first quarter corporate results have either been in line or disappointing. Local investors probably are aware that the beneficial impact of GST will come with a lag of a few quarters.
Investors forecast that the growth may take a hit on introduction of GST and inflation may see a bump up. Further, haggling over key issues of standard rate in the GST council after the bill is approved by more than 50 percent of states may create its own uncertainty.


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