Mumbai, Sep 4
The Indian benchmark indices opened higher on Thursday, buoyed by transformative rate reductions announced by the GST Council across sectors.
As of 9.25 am, the Sensex was up 554 points or 0.69 per cent, at 81,122, and the Nifty was up 159 points or 0.64 per cent, at 24,874.
The broadcap indices, Nifty Midcap 100 inched up by 0.21 per cent, and the Nifty Small cap 100 inched up 0.05 per cent.
The GST Council has reduced rates across insurance, medicines, and daily essentials, providing significant relief to households, farmers, and industries.
Notably, around 90 per cent of items previously taxed at 28 per cent GST have been moved to the 18 per cent slab, while nearly 99 per cent of goods in the 12 per cent category now fall under the 5 per cent bracket.