Domestic equity markets ended on a strong note today as investor sentiment improved on the back of GST reform buzz and sectoral buying.
The Nifty 50 surged 246 points to close above key resistance levels, while the Sensex jumped 676 points, led by gains in auto, banking, and FMCG stocks.
One of the biggest highlights of the session was the Nifty Auto index, which climbed to a 10-month high, driven by expectations of favorable GST reforms for the automobile sector. Market participants believe that a possible reduction in GST rates on two-wheelers and EVs could boost demand and help revive sales in the upcoming festive season.
Market Highlights:
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Sensex: Up 676 points
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Nifty 50: Gained 246 points
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Nifty Auto: Hit 10-month high on GST reform optimism
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Banking & FMCG stocks: Supported the rally
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Broader markets: Midcap and smallcap indices also witnessed healthy buying interest
Expert View
Analysts suggest that the market is factoring in policy-driven growth triggers alongside improving macroeconomic indicators. With GST reform talks gaining momentum, auto stocks are expected to stay in focus in the near term.