Synopsis : Indian markets rallied sharply on Monday as GST reforms and S&P Global’s rating upgrade boosted investor sentiment. Sensex surged nearly 1,000 points while Nifty hovered close to the 25,000 mark with autos and consumer durables leading the rally.
Mumbai: Indian stock markets witnessed a strong rally on Monday, fuelled by optimism around policy reforms and a global ratings upgrade.
Prime Minister Narendra Modi announced that the government will roll out next-generation GST reforms aimed at rationalising tax rates meaningfully by Diwali 2025. Adding to the cheer, S&P Global Ratings upgraded India’s sovereign credit rating from 'BBB-' to 'BBB' with a stable outlook, signalling stronger confidence in the country’s economic fundamentals.
At 11:03 AM, the BSE Sensex was trading at 81,562, up 964 points (1.20%), while the NSE Nifty50 surged 327 points (1.33%) to 24,957.
Top Gainers & Losers:
Hero MotoCorp led the rally with an 8% jump, followed by Maruti Suzuki, Bajaj Finance, Bajaj Auto, Ultratech Cement, M&M, and Nestle India. On the flip side, IT majors like HCL Tech, Infosys, Wipro, along with ITC, L&T, Dr Reddy’s, and ONGC remained under pressure.
Sectoral Performance:
The Nifty Auto index surged over 4%, driven by Hero MotoCorp (+8%), Maruti Suzuki (+6%), and TVS Motor (+5%).
The Nifty Consumer Durables index advanced 3.3%, reflecting strong demand outlook.
Broader indices also gained, with Nifty MidCap and SmallCap rising 1% each.
The Nifty Bank and Financial Services indices were in focus as S&P Global upgraded credit ratings of major lenders including SBI, ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank.
Meanwhile, the India VIX, the market’s volatility gauge, climbed over 4%, suggesting cautious optimism among traders.
IPO Corner:
In the mainboard segment, allotment for Regaal Resources IPO will be finalised today.
In the SME space, Studio LSD’s issue opens for subscription, while ANB Metal Cast and Medistep Healthcare debut on the NSE SME platform. Star Imaging and Path Lab will list on the BSE SME platform.
With strong policy cues and improved ratings outlook, investor sentiment has turned bullish, though rising volatility signals that caution remains in play.
Disclaimer : This article is for informational purposes only and should not be taken as financial or investment advice. Please consult a professional advisor before making investment decisions.
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