Stock Market News: After the announcement of GST Reform, the domestic market saw a boom on Thursday for the sixth consecutive day. The 30 -point Sensex climbed 143 points to cross the 82,000 point level on BSE. The market was raised due to buying in shares of major companies like ICICI Bank, Reliance Industries, mainly. The BSE Sensex based on 30 shares in a limited business climbed 142.87 points, or 0.17 percent to close at 82,000.71 points. During the business, at one time it climbed to 373.33 points. The Sensex closed up 14 shares with a decline, while 16 declined.

Stock market strength

NSE Nifty with fifty shares rose 33.20 points i.e. 0.13 percent to close at 25,083.75 points. Bajaj Finserv, ICICI Bank, Reliance Industries, Bajaj Finance, Larsen & Toubro and India Electronics were prominently benefited among the companies included in the Sensex. On the other hand, losses in disadvantages include Power Grid, Internal, Hindustan Unilever and Adani Ports. Market experts said that investors have increased the confidence of the proposed GST reforms and recently increased rating by S&P.

On raising the GST rates, a group of ministers of the states have accepted the proposal to adopt two-slabs of five and 18 percent of the Center. The GST Council can take a final decision on this proposal next month. Currently, the four -tier structure of the Goods and Services Tax (GST) is … 5, 12, 18 and 28 percent. Foods are levied either zero or five percent tax, while luxury and harmful items levy 28 percent tax.

European market decline

Investors are also focused on the statement of Jerome Pavel, head of the US Federal Reserve at the Jackson Hall Seminar. In other markets in Asia, South Korea’s Cappey and China’s Shanghai Composite continued to rise, while Japan’s Nikki and Hong Kong’s hangs closed down with a decline.

There was a decline in the afternoon trading in the major markets of Europe. Most of the US markets closed down on Wednesday. According to the stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,100.09 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 1,806.34 crore. Global oil benchmark Brent crude rose 0.90 percent to $ 67.44 per barrel. In six days, the Sensex has climbed 1,765 points i.e. 2.14 percent and the Nifty is 596 points i.e. 2.4 percent.

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