Equity markets rallied sharply on Thursday after the GST Council’s sweeping tax reforms lifted investor sentiment.
The Sensex jumped 888.96 points to 81,456.67 in early trade, while the Nifty 50 surged 265.7 points to 24,980.75. Banking, auto, and FMCG stocks led the uptrend amid hopes of stronger consumption and growth.
On Wednesday, the GST Council approved a simplified two-rate structure of 5% and 18%, effective September 22. Finance Minister Nirmala Sitharaman announced major rate cuts on essentials, automobiles, appliances, and farm inputs, further boosting market optimism.