CHENNAI: Indian stock markets started Friday on a strong note as investor sentiment was boosted by the GST Council’s move to simplify tax rates and cut levies on essential goods. The Sensex opened higher by nearly 300 points and touched the 81,000 mark, while the Nifty crossed 24,800. Optimism around a possible US Federal Reserve rate cut also added to the positive momentum.
However, profit booking later in the session trimmed some of the early gains. By 10:40 AM, the Sensex slipped to 80,574, down 143 points. Analysts noted that the “buy on expectation, sell on news” trend was visible, as traders locked in profits after the sharp rally of the past two sessions. Even so, both benchmarks ended the day broadly steady, holding near their highs for the week.