Stock Markets Extend Winning Streak, Sensex Jumps 371 Points On GST Reform Hopes

Mumbai: Indian stock markets gained for the fourth day in a row on Tuesday, driven by optimism over upcoming GST reforms and easing geopolitical tensions. The benchmark BSE Sensex rose 370.64 points, or 0.46 percent, to close at 81,644.39. During intraday trade, it jumped as much as 482 points to touch 81,755.88. The NSE Nifty also added 103.70 points, or 0.42 percent, to settle at 24,980.65.

GST Reforms Fuel Optimism

Market analysts said investor sentiment was lifted by the government’s plan to rationalize GST slabs by Diwali. Expectations of “big bang” reforms, coupled with easing global tensions, supported the rally. A recent credit rating upgrade for India also boosted investor confidence.

Top Gainers and Losers

Among Sensex stocks, Tata Motors led the gainers, climbing 3.5 percent, while Adani Ports surged 3.16 percent. Reliance Industries advanced 2.82 percent, adding significant weight to the index. Other gainers included Tech Mahindra, Kotak Mahindra Bank, Hindustan Unilever, Maruti Suzuki and NTPC.

On the flip side, Bajaj Finserv, Power Grid, Mahindra & Mahindra, and HCL Tech were among the top losers of the day.

Broader Market Strengthens

The broader markets outperformed the benchmarks, with both BSE midcap and smallcap indices rising 0.97 percent each. All major sectoral indices ended in the green. Oil & Gas stocks gained the most at 1.49 percent, followed by energy (1.48 percent), auto (1.45 percent), consumer discretionary (1.25 percent), services (1.12 percent), and telecom (1.04 percent). Market breadth was strong, as 2,630 stocks advanced against 1,437 declines, while 165 remained unchanged.

Global Market Cues

Global trends were mixed. Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s Composite, and Hong Kong’s Hang Seng, ended lower. European markets were trading higher, while US markets closed flat on Monday.

Meanwhile, global oil benchmark Brent crude slipped 0.93 percent to USD 65.98 per barrel. Foreign Institutional Investors (FIIs) were net buyers on Monday, picking up equities worth Rs 550.85 crore, according to exchange data.