02.09.202504:52:51UTC+00Indian Shares Extend Gains on GST Hopes

The BSE Sensex increased by 271 points, or 0.3%, reaching 80,636 during early trading on Tuesday, signifying its second consecutive session of growth. This upward trend was mainly driven by the strength in the energy and oil & gas sectors. Investor sentiment improved in anticipation of the forthcoming GST Council meeting this week, with hopes for GST rate reductions aimed at stimulating domestic demand. Additionally, the market's positive outlook was bolstered by a faster-than-anticipated GDP growth rate in the second quarter. Market participants also monitored global trade dynamics following a decision by a US federal appeals court deeming most of former President Trump's global tariffs illegal. The Nifty 50 saw a 0.4% increase, surpassing 24,700, while small- and mid-cap stocks performed notably well, rising by 0.8% and 0.5%, respectively. Leading the market were Reliance Industries (+2.1%), Power Grid (+2.0%), NTPC (+1.4%), Hindustan Unilever (+1.4%), and Nestle India (+1.3%).