Stock Market Live Updates: After the GST booster, the Indian markets are on the rise. The Nifty index is moving closer to the 25,000 mark, with gains of over 150 points. The Sensex index is also on the rise, with gains of close to 81,200. Mahindra & Mahindra, TVS Motors and Eicher are on the rise, hitting record high.
Sensex Today | Stock Market Live Updates: Today is the first weekly expiry of the BSE contracts after the new rules took effect. However, that could take a backseat, as most of the focus will be on the GST rate rationalisation announcements made last night and the resultant reaction on the stocks linked to the same.
Cement stocks, Coal India, apparel makers, footwear brands, consumer durables, and auto stocks—all of these will be in focus after the revised GST rate announcements. On the flip side, the exemption from GST for insurance policies and an increase in the rate for beverages will put these stocks under the spotlight as well.
The Nifty did close above the 24,700 mark on Wednesday, but Tuesday’s high of 24,754 will be the first hurdle to cross for the index and thereafter, the resistance band of 24,800 – 25,000, where multiple attempts made by the bulls have fizzled. What is heartening, though, is the contribution of the underperforming Nifty Bank on Wednesday and a close above the 54,000 mark.
Watch this space for all the live updates.