On Thursday, the benchmark indices, Sensex and Nifty 50, are expected to increase, following the GST Council’s decision at midnight on Wednesday to approve rate cuts for 396 categories. Asian markets were on the rise on Wednesday, aided by overnight changes in the Indian stock market that boosted both the S&P 500 and Nasdaq Composite, despite ongoing global economic challenges affecting investor confidence. Nifty ended Wednesday’s session up 135 points at 24,715 (+0.6 percent), driven by a strong performance in metal stocks and optimism regarding the GST Council’s influence on the market. The Nifty Metal index rose by 3.1 percent, supported by news from Gift Nifty about reducing steel production between 2025 and 2026, alongside a weaker U.S. dollar.
In Global Market Highlights for Sensex Today, Asian stocks increased on Thursday, following a positive earnings report from Wall Street, particularly in the tech sector. Futures for Hong Kong’s Hang Seng index were at 25,332, slightly below the previous close of 25,343.43. Gift Nifty traded within a range of 24,960 and 24,960, maintaining a premium of nearly 128 points over the last closing of Nifty futures, indicating a strong market opening for Indian benchmarks. During the GST Council meeting, Finance Minister Nirmala Sitharaman announced important changes aimed at simplifying GST rates. Some items were exempted from GST under the zero GST category, while others were moved to lower tax brackets of 5% or 18%, which are more favorable.
The impact of U.S. markets on India was mixed on Wednesday. The S&P 500 rose by 0.51%, driven by a second day of optimism in technology stocks, following a favorable federal court ruling in the Alphabet antitrust case. The Nasdaq Composite, which is heavily technology-focused, increased by 1.03 percent, closing at 21,497.73. The Dow ended down by 24.58 points (0.05%) at 45,271.23.