New Delhi, Sept. 29 -- While the goods and services tax (GST) reforms were hailed as a game-changer for economic consumption and Indian equities, the current market mood does not quite reflect the high hopes and early optimism.

In line with Prime Minister Narendra Modi's vision, the GST Council proposed a major reform that included a simplified tax structure with three rates of 5%, 18%, and 40%, replacing the earlier four-slab system. These changes took effect on 22 September.

During his Independence Day speech, Prime Minister Narendra Modi had announced the introduction of Next-Generation GST reforms by this Diwali, which will reduce taxes on daily-use items.

Despite the positive news on GST, the Nifty closed at 24,654.70 points on Fr...