PM Modi’s GST Gift Lifts Markets. Which Sectors Will Gain The Most?

The markets witnessed a sharp rally as the Sensex surged over 1,000 points and the Nifty reclaimed the 25,000 mark, fuelled by the Modi government’s major GST reform announcement. With GST slabs trimmed from five to three, most goods will now fall under the 5% and 18% brackets, bringing relief to household budgets and paving the way for retail prices to ease by 4–5% ahead of Diwali. The move is expected to boost festive demand and strengthen the earnings outlook for fiscal year 2027, while also making higher-ticket items such as cars, two-wheelers and air-conditioners more affordable. Key stock beneficiaries include HUL, Britannia, Maruti, Ashok Leyland, Ultratech, Voltas, Amber, Lemon Tree, Swiggy, HDFC Bank and Bajaj Finance. To discuss the market impact and long-term implications of this reform, we are joined by market expert Arun Kejriwal on Business Today.