On Thursday, September 4, the equity market benchmark indices, Sensex and Nifty 50, are expected to open higher as the GST Council on Wednesday approved major rate cuts on essential goods and some services, marking the biggest reform since GST’s launch.
As of 7:10 AM, the GIFT Nifty was trading near 24,968, up 156 points.
The Government of India (GoI) announced the rationalisation of indirect taxes in India after the GST Council meeting on Wednesday.
Finance Minister Nirmala Sitharaman made an announcement in this regard and said that a new goods and tax regime will come into effect from September 22, 2025, with three GST slabs: 5%, 18%, and 40% . While making this announcement, Sitharmana said that GST reforms would lead to a GST rate drop on 396 items that would help the common man. New rates to be implemented from Sept 22nd.
Asian markets advanced on Thursday, buoyed by an overnight tech-driven rally on Wall Street that boosted Nasdaq Composite.
On Wednesday, September 3, Foreign Institutional Investors (FIIs) were net sellers. FIIs sold equities worth ₹1,666.46 crore.
Domestic Institutional Investors (DIIs) were buyers on Wednesday. They bought shares worth ₹2,495.33 crore on the same day.
Indian equities witnessed strong buying interest across the board as sentiment improved on expectations of GST slab rationalisation.
The Sensex ended 410 points higher at 80,567.71, up 0.51%, while the Nifty 50 added 135 points, or 0.55%, to settle at 24,715.05. Broader markets also participated, with the BSE Midcap index rising 0.63% and the Smallcap index gaining 0.90%.
Overnight in the U.S., equity benchmarks ended mostly higher. The S&P 500 gained ground on Wednesday, lifted by strength in technology stocks after a federal court ruling in the Alphabet antitrust case boosted sentiment around big tech navigating regulatory hurdles.
The tech-heavy Nasdaq Composite advanced 1.03% to settle at 21,497.73, while the S&P 500 rose 0.51% to close at 6,448.26. In contrast, the Dow Jones Industrial Average slipped 24.58 points, or 0.05%, finishing at 45,271.23.
Meanwhile, global bond markets stayed in focus as long-term yields moved higher. The U.S. 30-year Treasury yield briefly crossed the 5% mark for the first time since July, following a court decision declaring most tariffs imposed during the Trump administration illegal, raising concerns about future tariff-related revenues.
Gold held steady in early Asian trade at $3,588.52/oz, supported by Fed rate cut expectations after US job openings declined in July.
The U.S. dollar extended losses against major currencies, including the yen, Swiss franc and euro on Wednesday. The dollar index, which measures the greenback against a basket of currencies, fell 0.2%.
WTI crude oil futures fell toward $63 per barrel and Brent crude oil futures fell toward $67 per barrel on Thursday, extending a 2.2% decline from the previous session amid concerns that OPEC+ may increase supply.
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