Markets trimmed earlier gains by midday on Thursday, with the and giving up much of their morning rally despite positive sentiment around the GST Council’s sweeping tax reforms announced the previous day.
The Sensex traded at 80,838.17, up 270.46 points or 0.34 per cent from the previous close of 80,567.71, significantly lower than the morning surge that had pushed the index to 81,456.67 at opening. The Nifty 50 stood at 24,778.60, gaining 63.55 points or 0.26 per cent from its previous close of 24,715.05, retreating from the opening high of 24,980.75.
continued to lead the gainers on the Nifty 50, surging 5.74 per cent to ₹3,474.50 despite paring some of its morning gains. climbed 4.34 per cent to ₹935.20, while added 2.37 per cent to ₹2,012.60. Trent gained 1.93 per cent to ₹5,585.00, and rose 1.68 per cent to ₹7,866.00.
On the downside, declined 2.41 per cent to ₹1,077.80, leading the losers. fell 1.56 per cent to ₹764.30, while IndusInd Bank dropped 1.18 per cent to ₹759.00. SBI Life Insurance declined 1.15 per cent to ₹1,789.90, and Power Grid Corporation slipped 1.12 per cent to ₹282.85.
Market breadth remained weak with 2,034 stocks declining against 1,917 advances on the . A total of 132 stocks hit 52-week highs while 40 touched 52-week lows. The broader markets showed mixed performance with Nifty Midcap 100 down 0.23 per cent at 57,216.00, while Nifty Financial Services gained 0.71 per cent to 25,914.65.
The , replacing the existing four-tier structure with a simplified two-rate system of 5 per cent and 18 per cent, along with a special 40 per cent slab for select items. The new rates will come into effect from September 22, 2025.
“The government’s move to simplify GST by reducing slabs from four to three is a smart step. Essential and aspirational goods now largely fall under the 5 per cent and 18 per cent brackets, which makes the system simpler and fairer,” said Pranav Haridasan, MD and CEO of Axis Securities. “Unlike income tax cuts that benefit specific sections, GST rationalisation reaches everyone — especially rural households and the middle class.”
Nitin Rao, CEO of InCred Wealth, noted that “the GST cuts are here and have been announced quickly/efficiently with an element of urgency, to boost demand before the festive season.” However, he cautioned that “recent measures like the rate cuts + budgetary measures taken on reduced taxes have not created necessary consumption boosters.”
Sectoral indices showed mixed performance, with Nifty Bank gaining 0.22 per cent to 54,194.60, while broader indices like Nifty Next 50 declined 0.09 per cent to 67,407.25.