Mumbai- Sensex and Nifty registered gains in early trade on Thursday. Sensex rose nearly 900 points. Investors are buoyed after the GST Council approved a complete overhaul of the Goods and Services Tax regime. The GST Council has approved limiting the slabs to five percent and 18 percent, which will be effective from September 22, the first day of Navratri.
In early trade, the BSE Sensex rose 888.96 points to 81,456.67 points and the NSE Nifty rose 265.7 points to 24,980.75 points. Among the 30 companies listed in the Sensex, Mahindra & Mahindra's stock recorded the highest increase of 7.50 percent. Shares of Bajaj Finance, Hindustan Unilever, Bajaj Finserv, ITC, Tata Motors and UltraTech Cement also remained in gains.
Shares of Eternal, Tata Steel, NTPC and HCL Tech fell. In Asian markets, South Korea's KOSPI and Japan's Nikkei 225 were in gains while China's Shanghai SSE Composite and Hong Kong's Hang Seng were in losses. US markets closed with a positive trend on Wednesday.
International standard Brent crude fell 0.56 percent to $67.22 per barrel. According to stock market data, foreign institutional investors were sellers on Wednesday and sold shares worth Rs 1,666.46 crore. Domestic institutional investors bought shares worth Rs 2,495.33 crore.