Proposed GST reforms fuel market rally; Sensex jumps 1,168 points, Nifty reclaims 25k level
GST
Dated:- 18-8-2025
PTI
Mumbai, Aug 18 (PTI) Stock markets rose sharply on Monday powered by heavy buying in auto and consumer durables stocks, buoyed by plans for big bang reforms in the GST regime by Diwali and S&P upgrading India's sovereign credit rating.
Extending the morning gains, the 30-share BSE Sensex further jumped 1,168.11 points or 1.44 per cent to 81,765.77. The 50-share NSE Nifty surged 390.7 points or 1.58 per cent to 25,022.
From the Sensex firms, Maruti zoomed over 8 per cent. Bajaj Finance, UltraTech Cement, Mahindra & Mahindra, Trent and Bajaj Finserv were among the other major gainers from the pack.
However, L
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odi had announced the proposal to reform the GST law in his Independence Day speech on August 15 from the ramparts of the Red Fort.
“The expectation is that most of the goods and services will be in the 5 per cent and 18 per cent tax slabs. Sectors like autos and cement, which are presently in the 28 per cent tax slabs, are expected to benefit. TVS Motors, Hero, Eicher, M&M and Maruti are likely to respond positively to the news. Insurance companies are also expected to benefit from the GST revision,” Vijayakumar added.
In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory while South Korea's Kospi quoted lower.
The US markets ended mostly lower on Friday.
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