Sensex rallies 400 pts, Nifty tops 24,800;

M&M

,

BAJFINANCE

e jump up to 6%

Indian benchmark indices, Sensex and Nifty, traded higher on Thursday after the government reduced duties on several goods in a revamped Goods and Services Tax (GST) framework. The move, aimed at stimulating consumption ahead of the festive season, also seeks to cushion the impact of steep U.S. tariffs and other external pressures. Auto, FMCG, and financial stocks drove the rally as optimism surrounding GST rate reductions lifted overall sentiment. Meanwhile, energy, metal, and oil & gas counters remained under pressure. GST Council Meeting Highlights & Impacted Stocks Finance Minister Nirmala Sitharaman on Wednesday announced that the GST Council has cleared tax cuts on hundreds of consumer items, ranging from soaps to compact cars, in a bid to bolster domestic demand amid economic headwinds from rising U.S. tariffs. The revamp collapsed the existing four-tier structure into a simplified dual-rate system of 5% and 18%, while retaining a special 40% levy on tobacco, pan masala, and other premium products. The revised structure, branded as “GST 2.0”, will be implemented from September 22. Additionally, the Council extended the compensation cess until October 31 and confirmed that it would not reconvene on Thursday. Global Market Updates S&P 500 futures edged up 0.1% as of 11:54 a.m. Tokyo time Nikkei 225 futures (OSE) advanced 1.2% Japan’s Topix gained 0.8% Australia’s S&P/ASX 200 climbed 0.8% Hong Kong’s Hang Seng slipped 1.2% Shanghai Composite dropped 1.8% Euro Stoxx 50 futures were largely unchanged