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Indian Stocks Surge Over 1% at Open, Driven by Tax Relief Policy
4 day ago /
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Author：小编
Indian stock markets witnessed a sharp surge at the opening bell on Thursday, with the Nifty 50 index and the Sensex index leaping 1.08% and 1.1% respectively. Prior to this, India's Goods and Services Tax (GST) Council had announced plans to streamline the tax rate structure and slash taxes on essential goods from September 22 onwards, aiming to mitigate the impact of heightened US tariffs. Analysts remarked that this tax reduction initiative is anticipated to invigorate India's economic growth and stimulate festive season consumption. Across the board, all major sectors closed in positive territory, with automotive and consumer goods stocks emerging as the frontrunners of the gains.
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