Sensex crosses 81,600, Nifty hits 25,000 for 1st time
On Monday, the Sensex shot up over 1,000 points to trade at 81,680, while Nifty crossed the 25,000 mark—thanks to next-generation GST reforms announced by PM Modi and S&P Global's credit rating upgrade, which got investors excited.
GST reforms and credit rating upgrade boost investor confidence
GST reforms announced by PM Modi mean lower taxes on everyday items like cars and appliances (with rates dropping from 28% to 18% for many such items), which could make things more affordable and boost spending.
Plus, S&P Global just upgraded India's credit rating for the first time since 2007—a nod to strong economic growth—which made investors even more confident.
Positive vibes from Asian markets and Wall Street help too
Positive vibes from Asian markets and Wall Street helped too.
The rupee got stronger against the dollar, oil prices dropped (which is good for inflation), and stocks across sectors—from Maruti Suzuki to Hindustan Unilever—saw gains.
It was a rare day when almost everything seemed to go right for Indian markets.