Indian Markets Surge on GST 2.0 Optimism Amid Global Positivity

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.