The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Stocks got back to consolidation mode in a see-saw session today as the Sensex closed high after two sessions of fall, ahead of the outcome of the GST Council meet amid a good set of earnings from Tata Motors.
Expectations that the GST (Goods and Services Tax) Council may offer relief to some sectors through reduction in tax rates at its meeting on Friday supported the rebound, traders said.
During the day, the benchmark swung almost 350 points (both sides).
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95. Intra-day, it touched a high of 10,368.45 and a low of 10,266.95.
"Renewed buying in consumer durables restricted further fall in the market on expectations of reducing taxes for products coming under 28 per cent GST tax bracket.
Albeit, investors are watchful ahead of key domestic macros CPI inflation and IIP data and global oil price fluctuation to get the direction," said Vinod Nair, head of research, Geojit Financial Services.
Bharti Airtel was the topper surging 2.39 per cent to Rs 507, followed by Asian Paints (2.08 per cent) at Rs 1,195.25.
Tata Motors ended up 0.36 per cent at Rs 440.30 after the company on Thursday reported a three-fold jump in consolidated profit for the quarter to September.
Asian markets were indecisive and European shares turned lower.
Domestic institutional investors (DIIs) purchased shares worth a net Rs 3,038.16 crore while foreign portfolio investors (FPIs) sold equities worth a net Rs 3,838.27 crore on Wednesday, provisional data from stock exchanges showed.
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.
However, ITC, Coal India, ONGC, Lupin, HDFC, Cipla, Axis Bank, Hero MotoCorp and Kotak Bank remained under pressure, down up to 2 per cent.
While consumer durables advanced the most by 3.23 per cent, followed by power, banking, metal and capital goods, healthcare, auto and FMCG ended in the red.
Broader markets put up somewhat a better show, with BSE mid-cap and small-cap indices jumping up to 0.98 per cent.
Photograph: Danish Siddiqui/Reuters
How MF investors can make money from bank recap
Is India's job market as bad as it is made out to be?
'No glitches on the GSTN portal'
Made a Bitcoin fortune? Pay the tax now!