Benchmark Indices Rise Ahead of GST Council Meet; Sugar Stocks Rally Up to 20%

Benchmark equity indices traded higher on Tuesday ahead of the two-day GST Council meeting scheduled for September 3–4, where key decisions on GST reforms are expected.

As of 12 PM, the BSE Sensex was at 80,660.86, up 296.37 points or 0.37 per cent, while the NSE Nifty50 stood at 24,731.05, higher by 105.70 points or 0.43 per cent.

Large-Cap stocks such as Power Grid, Reliance Industries, NTPC, Tata Steel, HUL and TCS were among the Top Gainers on the Sensex, rising up to 2.5 per cent. However, Mahindra & Mahindra slipped 1 per cent, while ICICI Bank, Asian Paints and UltraTech Cement were notable losers.

In the broader market, the NSE MidCap 100 gained 0.70 per cent, while the Nifty SmallCap 100 advanced 1 per cent. Strong participation in Small-Cap and Mid-Cap stocks was seen across sectors.

Among sectoral indices, only the Nifty Healthcare index declined, down 0.07 per cent. On the upside, Nifty Media rose 1.7 per cent, followed by gains in Nifty Oil and Gas, Nifty Realty and Nifty Metal.

Sugar stocks delivered sharp gains, rallying up to 20 per cent, after reports that the government has permitted sugar mills and distilleries to produce ethanol from sugarcane juice, syrup and all types of molasses without restrictions for the Ethanol Supply Year (ESY) 2025–2026. This development is expected to impact Quarterly Results positively for companies in the sugar and ethanol space and could lead to fresh momentum in small-cap counters.

Disclaimer: The article is for informational purposes only and not investment advice.