The market on Thursday ended flat with a positive bias after a consolidation as investors digested the passage of a long-awaited Goods and Services Tax (GST) Bill.
The Sensex started off on a strong note, rallying more than 200 points in opening but immediately wiped out gains to trade in a tight range for rest of the session. It traded up 16.86 points at 27714.37, and the Nifty gained 6.25 points at 8551.10 while the broader markets mildly outperformed benchmarks, up 0.4 percent on positive breadth.
"Indian equities have been rallying over the last quarter in anticipation of the GST legislation going through. With the event out of the way, near term we look for consolidation and shedding of some froth," said Bharat Iyer of JP Morgan.
The Rajya Sabha passed the GST Constitutional Amendment Bill in a bi-partisan manner on Wednesday, paving the way for the introduction of GST regime in India.
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