Sensex rallies over 700 pts, Nifty tops 24,900; GST cuts, 3 other drivers behind today's rally
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Indian benchmark indices Sensex and Nifty traded higher on Thursday after the government trimmed levies on a range of goods in a Goods and Services Tax (GST) overhaul aimed at spurring consumption ahead of the festive season and offsetting pressure from steep U.S. tariffs, among other factors. The NSE Nifty gained 200 points, or 0.80%, to trade above the 24,900 level, while the BSE Sensex advanced over 700 points, or 0.89%, to rise above the 81,200 mark. The combined market capitalization of all companies listed on the BSE rose by Rs 1.70 lakh crore to Rs 454.99 lakh crore. Here are the four key factors driving today’s gains: 1. GST overhaul Live Events Finance Minister Nirmala Sitharaman on Wednesday announced sweeping tax reductions on hundreds of consumer goods, from soaps to small cars, in a bid to spur demand and cushion the economy against the drag of steep U.S. tariffs. The move, part of the 56th meeting of the Goods and Services T...