Markets Open Firm on GST Boost, Fed Signals; Nifty Tops 24,800.
Indian equities opened higher on Friday, with GST rate cuts and dovish cues from the US Federal Reserve lifting sentiment. The Sensex gained nearly 300 points in early trade, while the Nifty50 crossed 24,800.
Investors drew comfort from the GST Council’s move to shift to a two-rate structure and lower levies on essentials, alongside expectations of a Fed rate cut after soft US labour data and supportive commentary from officials. Asian markets also tracked Wall Street gains on easing rate concerns.
Domestic institutional buying continues to underpin the market, with mutual fund inflows into equities reaching ₹70,500 crore in August, offsetting foreign selling. On Thursday, FPIs sold shares worth ₹1.06 billion, while DIIs bought ₹22.33 billion.
Analysts noted that while the GST boost may be partly priced in, momentum remains positive. “High valuations and volatility persist, but strong domestic flows and resilience in largecaps provide support,” said Dr. VK Vijayakumar of Geojit Financial Services.
In the previous session, the benchmarks briefly rose over 1% before paring gains as energy stocks dragged, though autos and consumer shares outperformed.
Comments are closed.