In Short
- Sensex and Nifty end session on a strong note
- Nifty ends just below 25,000 mark
- GST reforms and credit upgrade boost investor sentiment
Benchmark stock market indices ended Tuesday’s trading session on a positive note, supported by strong investor sentiment around GST reforms and improving geopolitical cues.
The S&P BSE Sensex rose 370.64 points to close higher, while the NSE Nifty50 advanced 103.70 points, finishing just shy of the 25,000 mark at 24,980.65.
Broader market indices mirrored the positive momentum, with small- and mid-cap stocks outperforming the benchmarks.
Investor optimism around the proposed GST rationalisation and a recent upgrade in India’s credit rating provided a boost to domestic markets, helping Dalal Street maintain momentum.
Positive global developments also played a role, with easing tensions between Russia and Ukraine lifting risk appetite across Asian markets.
Vinod Nair, Head of Research at Geojit Financial Services, said, “The national market continued its upward trend on expectations of GST rationalisation and a recent credit rating upgrade for India.”
“Easing geopolitical tensions between Russia and Ukraine further supported the bullish tone, moving the outlook from consolidation to a more constructive stance. However, the rally may face resistance until more clarity emerges on US-India trade negotiations,” he added.
Sectorally, auto stocks emerged as top performers, buoyed by hopes that China may take measures to address supply concerns related to rare earth magnets, a key input for electric vehicles and hybrid models. Banks and financial stocks also ended higher, tracking the overall positive market sentiment.
Market analysts, however, caution that volatility could return in the near term if global uncertainties flare up or if negotiations on trade fail to deliver clarity.
