Markets flat after RS nod to GST

MUMBAI: Investors on Dalal Street hardly reacted to the passage of the constitutional amendment bill enabling GST, with the sensex closing 17 points higher at 27,714. Brokers said the market had factored in the bill's passage in the run to its introduction in Rajya Sabha and, hence, the muted reaction.
In addition, investors also realized that this was just the first step on a long road to GST rollout in India, which could take more than a year, they said.Stocks of two-wheeler companies, which are expected to be one of the major beneficiaries of the GST, rose with Hero MotoCorp and Bajaj Auto closing around 1% higher each.
In the bond market too, traders were muted to the news with the benchmark yield on the 10-year gilts closing 2 basis points lower at 7.18%.