Sensex, Nifty Rally On GST Reforms And Easing US Tariff Tension Hopes

The domestic benchmark indices ended the session on a strong footing, buoyed by the GST reforms announcement and expectations of easing tariff tensions with the US after the Trump-Putin meeting in Alaska.

Sensex soared 677.09 points or 0.84 per cent to 81,273.75. The 30-share index opened the session with significant gains at 81,314.79 against last session’s closing at 80,597.66.

Driven by overall purchasing following the announcement of the GST reform plan, the index climbed to an intra-day high at 81,765.77.

The NSE Nifty surged 245.65 points or 1.0 per cent to close at 24,875.

NIfty auto led the sectoral rally, adding 1,008 points or 4.18 per cent. The majority of sectoral indices ended the session in the green.

Nifty Bank added 393 points or 0.71 per cent, Nifty Fin Services jumped 275 points or 1.05 per cent, and Nifty FMCG settled 647 points or 1.19 per cent higher. Nifty IT ended the session in negative territory.

Maruti Suzuki emerged top gainer, surging 8.93 per cent. Bajaj Finance, Ultratech Cement, Adani Ports, Bajaj Finserv, Mahindra and Mahindra, Hindustan Unilever, Trent, and Asian Paints also emerged as gainers.

Meanwhile, ITC, Eternal, Tech Mahindra, L&T, NTPC and Infosys were laggards.

Broder market followed suit as well. Nifty next rallied 888 points or 1.34 per cent, Nifty 100 soared 266 points or 1.05 per cent, Nifty Midcap 100 added 608 points or 1.08 per cent, and Nifty Small Cap 100 settled 242 points or 1.38 points higher.

Ruppe gained 0.24 paisa against the US dollar to close at 87.31.

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