Markets rise as Sensex gains 150, Nifty at 24,734 on GST boost

The Indian benchmark indices traded on a higher note on Thursday as the government’s GST 2.0 reforms boosted investor confidence on Dalal Street.The tax reform is expected to raise demand ahead of the festive season while easing concerns over steep U.S. tariffs.At close, the Sensex was up 150.30 or 0.19 percent at 80,718.01 and the Nifty was up 19.25 points or 0.08 percent at 24,734.30.
M&M, Bajaj Finance, Bajaj Finserv, Apollo Hospitals, Nestle were thetop gainers on the Nifty, while losers included HDFC Life, Tata Consumer, Wipro, Bharat Electronics, IndusInd Bank.On the sectoral front auto index up nearly 1 percent, FCMG index up 0.3 percent, while IT, media, metal, oil & gas, realty, power, PSU Bank down 0.5-1 percent. BSE Midcap and smallcap indices shed 0.6 percent each.
Rupee Close: 
On 4 Sep'25,the Indian rupee fell 12 paise to close at 88.14 against the US dollar on Thursday amid sustained foreign fund outflows and a stronger greenback.However, positive sentiment in the domestic equity markets which were buoyed by the GST rate revision and a drop in international crude oil prices prevented sharper losses in the local unit, according to forex traders.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Investments stated,after a promising start, the domestic market closed almost flat as profit booking emerged across the market except for consumption oriented beneficiary sectors such as Auto, Finance, and FMCG.In-line outcome of GST rationalisation and ongoing tariff threats from the US exerted a negative impact on the market today. Given that the US is India's largest export destination, accounting for 2.2% of the GDP, the repercussions are inevitable. Companies are exploring ways to maintain exports to their existing clients through strategies like cross-country billing and setting up manufacturing units abroad. However, exports are expected to slow down and hinder new growth opportunities.On the brighter side, the GST rate cut is expected to significantly boost domestic consumption demand, countering the adverse effects of diminished export competitiveness. Sectors such as Textiles, Equipment Manufacturers, Metals, Auto Ancillaries, Seafood, Basmati, Jewellery, IT, and Pharma are likely to experience more impact which will be mitigated by increase in domestic consumption like Durables, Discretionary, Staples, Hotels, FMCG, Electronics, and Autos.
Market experts recommended five stocks to buy on Thursday-TD Power Systems, Pondy Oxides and Chemicals, Yatharth Hospital & Trauma Cre Srvcs, Rategain Travel Technologies, and Goldiam International.

(Business Correspondent)