Equity benchmark indices Sensex and Nifty jumped more than 1 per cent in early trade Thursday, as the GST council decided to move to a two-tier rate structure effective from September 22 to cushion the impact of steep US tariffs
The NSE Nifty 50 was up 1.08 per cent at 24,980.75 and the BSE Sensex gained 1.1 per cent to 81,456.67.
On Wednesday, Finance Minister Nirmala Sitharaman announced that the GST structure will have two slabs of taxes: 5 per cent and 18 per cent, from the existing four slabs, and said everyday items will face lower taxes starting September 22.
All 13 major sectors logged gains. The auto index surged 3.6 per cent, while consumer stocks jumped 2.7 per cent, leading the benchmarks higher.
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