Stock market in the present day: Nifty50 opens above 24,850; BSE Sensex rallies over 500 points on GST rate cuts

GST Council’s rate minimize selections will act because the rapid market driver. (AI picture)

Stock market in the present day: Nifty50 and BSE Sensex, the Indian fairness benchmark indices, opened in inexperienced on Thursday, rallying strongly on the again of sweeping GST rate cuts introduced by FM Nirmala Sitharaman. While Nifty50 was above 24,850, BSE Sensex rallied over 500 points. At 9:16 AM, Nifty50 was buying and selling at 24,886.50, up 171 points or 0.69%. BSE Sensex was at 81,135.26, up 568 points or 0.70%.Market analysts anticipate sideways motion, influenced by worldwide market tendencies and industry-specific developments, with GST Council coverage selections appearing because the rapid market driver.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The revolutionary GST reform has come better than expected benefitting a wide spectrum of sectors. The ultimate beneficiary is the Indian consumer who will benefit from lower prices. The potential big boost to consumption in an economy that is already in growth momentum will be big and may surprise on the upside. This GST reform along with the fiscal and monetary stimulus already provided can trigger a virtuous cycle and boost India’s growth to 6.5% in FY 26 and perhaps 7% in FY 27 with impressive gains in corporate earnings.” “The market will begin discounting this possible rising state of affairs. Stocks in sectors as different as cars, FMCG, white items, cement, insurance coverage and so on would be the focus of consideration of the bulls. Autos are prone to outperform. There is a excessive chance of brief masking in the present day pushing costs larger than expectations. However, after the preliminary enthusiasm, tariff points will proceed to hang-out the market.”Nasdaq gained 1% while S&P 500 finished higher on Wednesday, with Alphabet advancing after a US court ruled against its breakup. Investors remained positive about potential Federal Reserve rate cuts this month.Asian stocks advanced following Wall Street gains after soft US employment data strengthened expectations for Federal Reserve rate reductions.Gold prices remained stable on Thursday, near the record peak achieved in the previous session, supported by global uncertainties and heightened prospects of a US interest rate reduction. Investors await crucial US employment data scheduled for release this week.Foreign portfolio investors sold shares worth Rs 1,666 crore net on Wednesday. Domestic institutional investors were net purchasers at Rs 2,495 crore.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)