Indian shares jumped more than 1% at the open on Thursday after a key tax council slashed consumption taxes as the country seeks to soften the blow of steep U.S. tariffs.
The NSE Nifty 50 was up 1.08% at 24,980.75 and the BSE Sensex gained 1.1% to 81,456.67 as of 9:15 a.m. IST.
On Wednesday, the Goods and Services Tax (GST) council approved a shift to a two-rate structure from the existing four slabs, and said everyday items will face lower taxes starting September 22.
The cuts should boost economic growth and festive season demand, according to Jefferies analysts, led by Mahesh Nandurkar.
All 13 major sectors logged gains. The auto index surged 3.6%, while consumer stocks jumped 2.7%, leading the benchmarks higher.
Sumber : Reuters
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