Indian stock markets continued their upward momentum on Friday with a positive opening. This optimism was supported by the recently announced GST 2.0 reforms. Investors are hopeful these new tax rationalisation measures will improve overall consumption volume. This is expected to drive economic growth in the coming quarters.
The Nifty 50 index opened at 24,818.85, gaining 84.55 points or 0.34 percent. Meanwhile, the BSE Sensex surged 294.41 points or 0.36 percent to open at 81,012.42. Market experts believe these reforms have potential to trigger a recovery phase. This comes after a period of underperformance in the equity markets.
Banking and market expert Ajay Bagga shared his insights with ANI. He noted that industry is welcoming the GST 2.0 reforms. They look forward to higher volumes post implementation from September 22nd.
Despite initial gains, Indian markets gave up most profits by Thursday’s close. The advance-decline ratio pointed to a negative bias with broader markets ending down. Bagga remains convinced expectation of strong consumption boost will move stocks up over next few weeks.
Underperformance for over 12 months helps set a good base for recovery into year-end. This perspective keeps investor sentiment cautiously optimistic.
Broader market indices showed positive movement. The Nifty 100 was up by 0.33 percent. The Nifty Smallcap 100 rose 0.20 percent. The Nifty Midcap 100 gained 0.31 percent.
Sectoral indices on the NSE reflected mixed but largely positive momentum. The Nifty Auto index climbed 0.59 percent. Nifty FMCG gained 0.13 percent. Nifty Realty rose 0.43 percent.
Nifty PSU Bank also showed strength, up 0.22 percent. However, the Nifty Metal index edged marginally lower by 0.04 percent.
On the global front, concerns around US labour market weakness persist. An expected soft non-farm payrolls report for August adds to caution. Trump tariffs being referred to the US Supreme Court create additional uncertainty.
Despite these factors, the S&P 500 continues registering record closes. Asian markets also opened higher on Friday, providing positive cues.
Japan’s Nikkei 225 gained 0.80 percent after signing a trade deal with the US. This is expected to provide relief to its auto sector. Taiwan’s Weighted Index jumped over 1 percent.
Singapore’s Straits Times was up 0.15 percent. Hong Kong’s Hang Seng advanced 0.47 percent. South Korea’s KOSPI also traded in the green.
With GST 2.0 reforms in focus, investors eye coming weeks with optimism. They expect stronger consumption-led momentum to lift Indian equities further. The reforms are seen as a significant catalyst for market movement.
The overall sentiment remains positive despite short-term fluctuations. Experts believe the foundation is set for sustained growth. The GST 2.0 implementation is eagerly anticipated across sectors.