Nifty, Sensex gain over 1% as GST reforms boost spending
Indian stock markets had a strong Monday, with the Nifty 50 up 1% and Sensex rising 0.83%.
The boost came after new GST changes were announced on August 15, aiming to make everyday essentials cheaper and encourage spending—even if it puts some short-term pressure on government finances.
An upgrade from S&P Global Ratings added extra confidence for investors.
Sectors tied to what people buy--like autos (up 4.18%)
Sectors tied to what people buy—like autos (up 4.18%) and consumer durables (up 3.38%)—led the rally.
PM Modi has promised more GST reforms by Diwali, including tax cuts on key items. Experts say this is good news for shoppers, but warn that some buyers might hold off big purchases until the new rates kick in.
Despite recent foreign investor pullouts over global uncertainty, these moves are seen as positive steps for India's long-term growth.