Mumbai, Aug. 18 -- Indian stock markets opened with a strong rally on Monday as investor sentiment improved following the government's announcement of GST cuts and the sovereign rating upgrade for India by S&P Global.

The benchmark Nifty 50 index opened at 24,938.20, up 306.90 points or 1.25 per cent, while the BSE Sensex gained 727.24 points or 0.90 per cent to open at 81,324.90.

Market experts said the announcement of GST rate reduction by Prime Minister Narendra Modi has boosted confidence, particularly in the consumption sector.

Ajay Bagga, banking and market expert, told ANI, "India has two positives, one watchful cue this morning. The two positives are, the GST cuts within the next 50 days announced by the PM during his Independe...