Photo: MintMumbai: Market consolidation continued on Thursday as the Sensex closed high after two sessions of fall, ahead of the goods and service tax (GST) council meet amid a good set of earnings from Tata Motors. Expectations that the GST Council may offer relief to some sectors through reduction in tax rates at its meeting on Friday supported the rebound, traders said. The Sensex, which had lost 512.38 points in the previous two sessions, edged up 32.12 points, or 0.10%, to close at 33,250.93 after trading between 33,463.80 and 33,111.54. “Renewed buying in consumer durables restricted further fall in the market on expectations of reducing taxes for products coming under 28% GST tax bracket. ICICI Bank, Tata Steel, Reliance Industries, Hindustan Unilever, SBI, NTPC, Dr Reddy’s, Adani Ports, Bajaj Auto, Wipro, Infosys and TCS posted moderate to modest gains.

Source: Mint November 09, 2017 04:12 UTC