Markets Rally Ahead, Sensex Opens Under 81K, Nifty Tests 24,800

In the pre-open session, the Sensex climbed close to 300 points and crossed 81K, while the Nifty jumped 85 points and stood above 24,800, around 9:10 AM.

At 7:30 AM on Friday, GIFT Nifty futures were trading 53 points higher at 24,880.

Source : Freepik

Indian markets geared up for another positive session on Friday. Benchmarks, Sensex and Nifty, looked set to open the last trading session of the week in green.
The BSE Sensex began trading just under 81k, soaring nearly 300 points, while the NSE Nifty50 opened the day at 24,819, clocking a gain of 85 points.

At 7:30 AM on Friday, GIFT Nifty futures were trading 53 points higher at 24,880. This uplift in the sentiment could be attributed to the GST reforms announced by Finance Minister Nirmala Sitharaman on Wednesday. The GST Council approved a major revamp, reducing slabs to just 5 per cent and 18 per cent from September 22, the first day of Navaratri. The move will make items ranging from roti, paratha, hair oil and ice creams to TVs cheaper, while personal health and life insurance premiums will now attract zero tax.

In the pre-open session, the Sensex climbed close to 300 points and crossed 81K, while the Nifty jumped 85 points and stood above 24,800, around 9:10 AM.

On the 30-share Sensex, M&M, Asian Paints, PowerGrid, Reliance, and Bharti Airtel stood among the gainers. Meanwhile, the laggards included ITC, HUL, Sun Pharma, Titan, and ICICI Bank.

In the broader markets, the Nifty Midcap Select stood out with gains of 0.59 per cent. Sectorally, the Auto index dominated and jumped close to 1 per cent in the morning market hours. The FMCG index remained the only one in red as it bled 0.53 per cent.

How Did Markets Fare On Sep 4?

Equity benchmarks extended gains for the second straight session on Thursday, buoyed by optimism around the Goods and Services Tax (GST) rate cuts on daily essentials and personal-use products. However, profit-taking in heavyweights like Reliance Industries and Infosys capped the upside.

Foreign Institutional Investors (FIIs) dumped Indian equities worth Rs 106.34 crore on Thursday, while Domestic Institutional Investors (DII) bought stocks worth Rs 2,233.09 crore, according to exchange data. 

The Sensex advanced 150.30 points, or 0.19 per cent, to close at 80,718.01. The broader NSE Nifty also settled in the green, edging up 19.25 points, or 0.08 per cent, to 24,734.30, after touching 24,980.75 in early trade.