CHENNAI: Indian equity markets ended Tuesday on a strong note, supported by optimism over possible GST reforms and an improved outlook on the economy.
The BSE Sensex closed 676 points higher at 81,274, while the NSE Nifty 50 settled at 24,877, up about 1 percent. Auto, consumer durables, and realty stocks led the rally, with gains of 2–4 percent. Metal, FMCG, telecom and private banking shares also added to the upside momentum.
In the currency market, the Indian rupee appreciated against the US dollar, closing at around ₹87.35–87.39 per dollar, helped by strong equity inflows and positive sentiment from reform measures.
On the commodities front, gold prices eased as safe-haven demand weakened. MCX October gold futures ended near a two-week low at ₹99,860 per 10 grams, marginally higher by ₹22 but still below the ₹1 lakh mark. Analysts expect the yellow metal to remain range-bound with a slight downward bias.
Silver prices, however, moved up. Futures for September delivery on MCX rose by about ₹201 to ₹1,14,144 per kg. In the spot market, prices in some cities climbed higher, with Chennai quoting around ₹1,27,000 per kg.
Analysts say overall it was a positive day for Indian markets, with equities and the rupee gaining ground, while gold softened and silver extended its upward move.