India`s stock benchmarks open higher on GST cuts, US rate cut hopes

India's equity benchmarks opened higher on Monday after dismal U.S. labour data increased expectations of a Federal Reserve rate cut, while the Indian government's tax cuts also buoyed sentiment.
The NSE Nifty 50 was up 0.25% to 24,802.6 and the BSE Sensex gained 0.24% to 80,904.4 as of 9:15 a.m. IST.
All the 16 major sectors logged gains. The broader small-caps and mid-caps rose about 0.3% each.
The Nifty and BSE Sensex rose 1.3% and 1.1%, respectively, last week after the Goods and Services Tax council cut levies on everyday goods in an effort to stoke consumption.
Other Asian markets opened higher, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS) rising 0.4% after data showed the U.S. created far fewer jobs than expected in August, raising hopes of a rate cut later this month.
Lower interest rates in the U.S. make emerging markets such as India attractive for foreign investors.

Sumber : Reuters