The Indian stock market ended the session in green on Monday after heavy buying in auto, banking and consumer durable stocks, amid the positive sentiment around upcoming GST reforms.
Sensex closed at 81,273.75, up 676.09 points or 0.84 per cent. The 30-share index opened the session with a huge gap-up at 81,315.79 against last session's closing of 80,597.66. Buoyed by overall buying post the GST reform announcement, the index touched an intraday high at 81,765.77.
Nifty settled at 24,876.95, up 245.65 points or 1.0 per cent.
"The proposed rationalisation of GST is a sentiment booster for the domestic market. Additionally, the recent conclusion of the US and Russia summit, without any escalation in geopolitical tensions, has helped ease investor anxiety," said Vinod Nair, Head of Research, Geojit Investments Limited.
The automobile sector outperformed, emerging as a key beneficiary of the anticipated tax reforms. In H2 FY26, we expect the consumption-led sectors to show some traction on account of demand revival, he added.
Maruti Suzuki, Bajaj Finance, Ultratech Cement, Adani Ports, Bajaj Finserv, Mahindra and Mahindra, Hindustan Unilever, Trent, Asian Paint, Tata Steel, Tata Motors, Axis Bank and Bharti Airtel were among the top gainers from the Sensex basket., while ITC, Eternal, Tech Mahindra, L&T, NTPC, and Infosys were the top losers.
Nifty Auto led the sectoral rally, surging 1,008 points or 4.18 per cent as the majority of sectoral indices settled the session with a decent gain. Nifty Bank surged 393 points or 0.71 per cent, Nifty Fin Services rose 275 points or 1.05 per cent, and Nifty FMCG ended the session 647 points or 1.19 per cent high. Nifty IT settled in negative territory.
Broader indices followed suit as well. Nifty Next 50 rallied 888 points or 1.34 per cent, Nifty 100 soared 266 points or 1.05 per cent, Nifty Midcap 100 jumped 608 points or 1.08 per cent, and Nifty Small Cap 100 closed 242 points or 1.38 per cent higher.
Meanwhile, rupee gained 0.24 paise to close at 87.31.
"The GST reform move comes as policymakers look to cushion the economy amid lingering pressure on exports from US tariff issues. Rupee range can be seen between 87.00- 87.75," said Jateen Trivedi of LKP Securities.
IBM partners Sarvam to strengthen India's sovereign AI ecosystem
IBM and homegrown AI startup Sarvam have partnered to accelerate the development and adoption of sovereign artificial intelligence (AI) technologies in India, with a focus on government agencies, public sector organisations and regulated enterprises, according to a statement on Friday.
Sensex climbs 274 pts, Nifty ends above 24,300 as auto stocks lend support
Indian equity benchmarks closed with modest gains on Thursday after a subdued trading session, as investors remained watchful of the evolving geopolitical situation in West Asia.
Markets extend losing streak to 5th day; Sensex sheds 332 points, Nifty slips below 23,800
Indian equity benchmarks extended their losing streak to a fifth consecutive session on Friday, marking their longest stretch of declines since the first week of January, as investors remained cautious amid concerns over the inflation and growth outlook in the backdrop of elevated crude oil prices.