Stock markets continue to rally on GST reforms bid

New Delhi: Equity benchmark indices climbed in early trade on Tuesday, extending their previous day's sharp rally, as optimism prevailed in the market buoyed by plans for big bang reforms in the GST regime by Diwali.

The 30-share BSE Sensex climbed 203.44 points to 81,477.19 in early trade. The 50-share NSE Nifty went up by 53.4 points to 24,930.35.

From the Sensex firms, Reliance Industries, Bharti Airtel, Adani Ports, NTPC, Titan and Infosys were the major gainers.

However, Bajaj Finance, Bharat Electronics, Mahindra & Mahindra and HCL Tech were among the laggards.

In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory while South Korea's Kospi and Japan's Nikkei 225 index quoted lower.

"The White House talks indicate that there is “reasonable chance of ending the war”. And, if this happens, the secondary tariff on India for buying oil from Russia would become irrelevan

t. This may turn out to be positive from the market perspective," Vijayakumar added.

Global oil benchmark Brent crude declined 0.50 percent to USD 66.24 a barrel.

On Monday, the Sensex jumped 676.09 points or 0.84 percent to settle at 81,273.75. The Nifty climbed 245.65 points or 1 percent to end at 24,876.95.

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