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The domestic equity market continued its bullish run on Wednesday, August 20, boosted by optimism around the government’s plans for Goods and Services Tax (GST) reform. The benchmark Nifty index surged past the key psychological level of 25,000, while the Sensex extended its winning streak to a fifth consecutive session.
At the close of trade, the Sensex rose 213.45 points (0.26%) to 81,857.84, and the Nifty added 69.90 points (0.28%) to finish at 25,050.55. Market breadth remained positive, with 2,071 shares advancing, 1,588 declining and 124 remaining unchanged.
Nifty Settles Above 25000 – Market Driven by GST Reform Optimism
The Nifty settles above 25000 mark following a steady rally over the past three sessions, largely driven by expectations of a major GST rationalisation ahead of Diwali. Analysts believe that sectors such as FMCG, automobiles, financials and insurance could benefit significantly from lower tax slabs. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, added that improving India–China relations have also aided sentiment, although concerns remain due to the upcoming US tariff deadline on August 27.
IT Stocks Lead Sectoral Gains
Nifty IT emerged as the top-performing index of the day, jumping 2.6% as sector heavyweight Infosys announced an 80% variable pay for employees and delivered a stronger-than-expected first quarter. Nifty FMCG gained 1.32%, while Nifty Realty advanced 1.01%. Nifty Metal, Energy, Infra and Auto also ended in positive territory during a mixed session.
Nifty Settles Above 25000 – Technical Outlook Remains Positive
With the Nifty settles above 25000, technical analysts point out that the index has regained momentum after holding above the 50-day exponential moving average (24,800) and retesting the 25,000 mark. Analysts suggest that a decisive break above 25,100 could open the door to upside targets of 25,200 and 25,300 in the coming sessions.
Mixed Performance Across Sectors
While most sectors posted gains, Nifty Media declined 1.94%, followed by Nifty Pharma down 0.42% and Nifty PSU Bank slipping by 0.24%. Traders continue to monitor global cues, including developments related to US tariff policy and the likelihood of a rate cut by the US Federal Reserve — factors that could influence short-term market direction.
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