The stock market saw a significant surge on September 4th. The Sensex opened 888.96 points higher at 81,456.67, and the Nifty opened 265.7 points higher at 24,980.75. Investor enthusiasm increased following GST concessions. Stocks like Mahindra & Mahindra, Bajaj Finance, and ITC were in gain, while Tata Steel and NTPC were in loss.
Stock Market Today: BSE Sensex and NSE Nifty opened with a b rally in early trading on September 4th. The Sensex reached 81,456.67 points, up 888.96 points, and the Nifty traded at 24,980.75 points, up 265.7 points. The GST Council approved limiting tax slabs to 5% and 18%, boosting investor sentiment. Mahindra & Mahindra shares surged by 7.50%, while Eternal, Tata Steel, and NTPC shares closed with a decline.
GST Boosts Market Enthusiasm
The GST Council has approved limiting the slabs to only 5 percent and 18 percent. This change will be effective from September 22nd, which is the start of Navratri. Investors have viewed this decision as a positive signal, and its impact was clearly visible in the market during early trading.
According to experts, this reform in GST will reduce companies' costs and bring stability to the prices of goods for the common man. Furthermore, this move will also help in increasing the profits of the corporate sector.
Sensex and Nifty Performance Today
The Sensex saw a surge of approximately 900 points in early trading. However, in the latter half of the day, the Sensex closed at the 80,715 level with a gain of over 150 points. Talking about the Nifty, it closed at around the 24,739 level with a modest gain of 24 points.
The broader market witnessed volatility. The Nifty Midcap and Nifty Smallcap indices closed in the red, down by 386 points and 126 points respectively. Meanwhile, the Nifty Bank index recorded a slight gain of 7.90 points.
Top Gainers and Losers
Among the 30 companies included in the Sensex, Mahindra & Mahindra shares saw the biggest gain of 7.50 percent. Additionally, shares of Bajaj Finance, Hindustan Unilever, Bajaj Finserv, ITC, Tata Motors, and Ultratech Cement were also in gain.
Conversely, shares of Eternal, Tata Steel, NTPC, and HCL Tech saw a decline. This fall was primarily linked to pressure from global markets and sector-specific performance.
GST Reforms: Positive Signal for Investors
Investors considered the GST concession decision a positive signal, which boosted market confidence. Due to heavy demand in the early trading hours, both the Sensex and Nifty witnessed a surge. Traders stated that the GST reforms will reduce companies' costs and increase profits.
Experts believe that such reforms will bring stability to the Indian stock market in the medium and long term. Furthermore, it signals to investors that government policies are supportive of businesses.
Sector-wise Impact
The banking and IT sectors saw mixed trends in the market today. Banking stocks registered a slight gain, while pressure persisted in the midcap and smallcap sectors. Automobile sector stocks experienced a b rally, particularly Mahindra & Mahindra and Tata Motors. FMCG companies' shares also recorded a marginal rise.
