Indian equities saw a strong rally on Monday, led by gains in auto, consumer durables, and real estate sectors, following Prime Minister Narendra Modi’s announcement to cut GST rates on key consumer goods. The move aims to offset the impact of potential US tariffs and boost domestic consumption. The Nifty 50 rose 1% to close at 24,874, while the Sensex climbed 0.84% to 81,273. Midcap and smallcap indices also surged over 1%. Modi proposed rationalizing GST slabs from four to two—5% and 18%—which sparked investor optimism, especially in auto stocks anticipating a cut from the current 28% rate. Maruti Suzuki jumped 8.8%, its best single-day gain in five years. Other top performers included Hyundai Motor India, PG Electroplast, and Ashok Leyland. Nearly 100 Nifty 500 stocks gained between 3% and 9%. Meanwhile, a few stocks such as Godfrey Phillips and Suzlon Energy declined, amid concerns over a proposed 40% GST on sin goods like tobacco. The GST Council is expected to review the proposal in October.
Top Gainers & Losers On August 18, 2025
