Markets opened on a strong note on Thursday, tracking positive cues from the GST Council’s reforms.
The Sensex surged 888.96 points to 81,456.67 in early trade, while the Nifty 50 climbed 265.7 points to 24,980.75.
Banking, auto and FMCG stocks led the rally, with investor sentiment buoyed by expectations of stronger consumption and growth.
The Goods and Services Tax Council on Wednesday decised to move to a simplified two-rate structure of 5 per cent and 18 per cent from September 22.
Union finance minister Nirmala Sitharaman announced sweeping reductions in GST rates on essentials, automobiles, electronic appliances and agricultural inputs.