TNI Bureau: Share market welcomed the Goods and Services Tax (GST) reforms with a strong rally on Thursday, led by gains in auto and FMCG stocks. The Sensex surged 621 points to 81,160, while the Nifty rose 170 points to close at 24,891.
Out of the Sensex pack, 22 stocks advanced and 8 declined. Mahindra and Mahindra led the gainers with a 6.24% jump, followed by Bajaj Finance at 4.67% and Eicher Motors at 2.81%. Coal India, Wipro, and Eternal were among the laggards. On the Nifty 50, 36 stocks advanced while 14 declined.
Sectoral indices reflected the positive trend, with Nifty Auto rising 2.42% and Nifty FMCG gaining 1.86%. Within FMCG, Britannia climbed 5.84% and Colgate Palmolive rose 3.46%.
Broader markets also showed resilience, though modestly, with Nifty Midcap 50 up 0.29% and Nifty Smallcap 50 gaining 0.07%. Experts said the simplified GST slabs could boost domestic consumption, though tariff concerns may continue to influence market direction.
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