Benchmarks Sensex and Nifty overcame a spell of fag-end volatility to close with moderate gains today as investor sentiment got a lift after the GST Council reduced tax rates on a wide range of mass use items.
The 30-share Sensex, after a hesitant start at 33,235.75, rebounded to the day's high of 33,380.42 in the late afternoon trade, but lost some ground to end at 33,314.56., up 63.63 points, or 0.19 per cent, from its previous close.
The broader Nifty, after moving between 10,254.10 and 10,344.95, finally concluded 12.80 points, or 0.12 per cent, higher at 10,321.75.
The all-powerful council pruned the list of items attracting the top 28 per cent tax rate to just 50 from 227 previously.
In effect, the council, in its 23rd meet today, cut rates on 177 goods.
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