Indian Markets Surge on GST 2.0 Optimism Amid Global Positivity

Indian stock markets rose on Friday with optimism over GST 2.0 reforms. The Nifty 50 and BSE Sensex indices gained as investors anticipate a boost in consumption. Banking expert Ajay Bagga predicts a positive trend, while global markets remain strong despite US concerns.

Indian stock markets experienced an upward trend on Friday, buoyed by the positive sentiment surrounding the newly unveiled GST 2.0 reforms. The optimism among investors stems from the belief that these tax rationalisation measures will stimulate consumption, fostering economic growth in the near future.

The Nifty 50 index saw an opening gain of 84.55 points, or 0.34%, at 24,818.85, while the BSE Sensex climbed 294.41 points, or 0.36%, to start the day at 81,012.42. Analysts suggest that these reforms might initiate a recovery phase following a prolonged period of underperformance in equity markets.

Ajay Bagga, a prominent banking and market analyst, noted that although markets relinquished most of their Thursday gains, there is a shared optimism about a robust consumption-driven rally in upcoming weeks. Meanwhile, global markets, including Asia's bourses, displayed resilience despite concerns about weaknesses in the US labour market.

(With inputs from agencies.)