Sensex, Nifty Rise Ahead of Key GST Council Meeting

Quick Summary

• Indian stock markets opened higher on Tuesday, extending gains from the previous session.
• NSE Nifty 50 rose by 0.16% to 24,668.30 and S&P BSE Sensex gained 0.20% to 80,530.12 as of 9:15 a.m. IST.
• Gains were driven by optimistic investor sentiment ahead of the upcoming GST Council meeting scheduled for september 3-4.
• The GST Council plans to cut consumption tax by at least 10 percentage points on around 175 products, including shampoos, hybrid cars, and consumer electronics.
• Monday’s market performance was bolstered by strong monthly auto sales figures and better-than-expected GDP data from last week.
• All major sectors advanced slightly; small-cap stocks rose by approximately 0.5% and mid-caps increased by about 0.4%.

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