New Delhi, Sept. 4 -- The Indian stock market benchmarks, the Sensex and the Nifty 50, jumped over a per cent each in early deals on Thursday, September 4, after the GST Council announced a mega Diwali gift for Indian consumers.

The historic GST rate cuts, announced after the 56th GST Council meeting, appear to have rekindled investor risk appetite, as the reforms are expected to boost consumption, lift GDP growth by 100-120 bps, and counter US tariffs on Indian goods.

"GST rate changes, along with RBI's rate cuts, income tax rebates announced in FY26 budget and easing inflation are all levers for a consumption uptick in the economy. We expect GST-related demand boost to add 100 to 120 bps to the GDP growth over the next 4-6 quarters, t...