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Sensex crosses 80,950 mark, Nifty settles above 24,800
The Indian stock market started strong on Thursday after GST relief news, but couldn't hold onto all its early gains.
Around noon, the Sensex was up 387 points at 80,955, and the Nifty rose just above 24,800—with some ups and downs coinciding with the first Thursday expiry of Sensex derivatives.
Analysts expect markets to get re-rated
While headline indices stayed positive, midcap and smallcap stocks slipped.
Auto stocks managed a modest gain, but FMCG and Consumer Durables cooled off. Pharma and IT sectors dipped slightly too.
Still, analysts are upbeat about GST 2.0 reforms possibly boosting future growth—pointing to expected profit increases and a chance for markets to get re-rated if things go as planned.