Mumbai, Sept. 4 -- The headline equity indices traded with decent gains in the afternoon trade after the government cut taxes on several goods as part of a major GST overhaul. The move aims to boost consumer spending ahead of the festive season and ease the impact of high U.S. tariffs, among other factors. Market participants' focus on GST reforms announced by the GST Council eclipsed the impact of the weekly expiry of Sensex F&O contracts. The Nifty traded above the 24,800 level.

The Nifty traded above the 24,800 level. Auto, financial services and FMCG shares advanced while PSU bank, oil & gas and IT shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, rallied 413.57 points or 0.51% to 80,981.31. The Nifty 50 index...