The market on Wednesday ended on a flat note after a lot of volatility in the trading session. The Sensex ended up 47.81 points or 0.2 per cent at 28024.33 and the Nifty ended up 25.15 points or 0.3 per cent at 8615.80.
Shares such as ICICI Bank, Adani Ports, Maruti, HDFC and Tata Motors were the top gainers while Dr Reddy’s, ITC, Reliance, Tata Steel and Axis Bank were among the losers.
According to Nomura, the constitutional amendment that allows for a Goods and Services Tax (GST) is more likely to be passed in this Monsoon Session of Parliament.
The Japanese financial services major said the expected timeline for the passage of GST is by August 12 and there is a 60 percent probability for it being amended.
“We believe a constitutional amendment that allows for a Goods and Services Tax (GST) is more likely than not to be passed during the ongoing Monsoon Session of Parliament (July 18-August 12),” said the note.
The GST Bill, which intends to convert 29 states into a single market through a new indirect tax regime, was earlier planned to be introduced from April 1 this year, but the deadline was missed as the legislation to roll it out remains in limbo in the Opposition-dominated Rajya Sabha.