Indian equity markets surged sharply on Monday, driven by renewed investor confidence following key GST reform announcements. The BSE Sensex jumped over 850 points, while the Nifty 50 crossed the 24,900 mark for the first time, setting fresh all-time highs.
🔍 Key Market Highlights:
- Sensex surged 858 points to close near 83,400, powered by gains in auto, FMCG, and consumer durables stocks.
- Nifty 50 ended above the 24,900 level, with broad-based buying across sectors.
- Auto and consumer durables led the rally, with top gainers including Maruti Suzuki, Titan, Bajaj Auto, and Hindustan Unilever.
📊 What’s Fueling the Rally?
The rally comes after the GST Council’s latest meeting, which unveiled simplified tax structures and a push to rationalize rates on key consumer goods. Experts believe the move could boost consumption and improve compliance, especially for small and medium enterprises.
“The GST reforms are seen as business-friendly and pro-growth. Markets are reacting to the positive sentiment with renewed vigor,” said Anuj Mehta, Chief Economist at Axis Securities.
🔼 Sectoral Gains:
- Auto Index up by 2.6%
- Consumer Durables jumped 2.8%
- Banking & Financials also supported the rally with moderate gains
- Realty and IT stocks saw mixed trading
đź’¬ Market Outlook:
With domestic reforms back in focus and global markets stabilizing, analysts expect continued momentum in the near term, though profit-booking at higher levels is likely.
“As long as policy signals remain strong and inflation stays under control, the Nifty may soon test the 25,000 mark,” added Mehta.
