CHENNAI: Indian equities closed nearly unchanged on Tuesday, September 2, after a firm start to the session. Early optimism driven by strong GST collections and supportive global cues faded as investors turned cautious ahead of the upcoming GST Council meeting.
The Sensex ended 201 points higher at 80,565, while the Nifty gained 72 points to close at 24,698.
Markets drew initial strength from robust GST inflows for August, which stayed above the Rs 1.5 lakh crore mark, signaling steady economic activity. Positive global trends and easing crude oil prices also supported sentiment. However, momentum weakened in the second half as participants booked profits and shifted to a wait-and-watch mode.
Investor focus is now on the two-day 56th GST Council meeting beginning September 3, where key reforms and sector-specific relief measures are expected. Analysts believe the outcome of the meeting will set the tone for near-term market direction.
Banking and FMCG stocks saw selective buying during the session, while IT and metals weighed on overall gains. Market experts expect volatility to persist until clarity emerges from the Council discussions and other macroeconomic data releases.