Indian stock markets surged at midday on Monday, August 18, powered by two significant catalysts fueling investor optimism:
GST Reforms Announcement: Prime Minister Narendra Modi unveiled plans for next-generation GST reforms expected by Diwali 2025, raising hopes of an improved taxation regime that could spur growth across sectors.
Credit Rating Upgrade: S&P Global Ratings upgraded India’s sovereign credit score from ‘BBB-’ to ‘BBB’ with a stable outlook. The move signals heightened confidence in India’s economic trajectory and fiscal discipline.
By 12:40PM, benchmark indices reflected the bullish sentiment:
BSE Sensex: up 702 points (0.87 percent) at 81,399.
NSE Nifty50: gained 264 points (1.07 percent) at 24,888.
The overall market capitalization of listed companies jumped by Rs 6.22 lakh crore, highlighting widespread investor participation.
Stock Highlights & Sector Moves
Rail Vikas Nigam Ltd (RVNL)
RVNL shares gained after receiving a Rs 178.64 crore contract from IRCON International Ltd for comprehensive signalling and telecommunications works, reinforcing its order book.
Vodafone Idea (Vi)
Vodafone Idea shares climbed 8.6 percent, marking an intra-day high at Rs 6.68, driven by positive Q1 results. At 10:13AM, the stock was up 6.18 percent at Rs 6.53, standing out against the rising Sensex.
JSW Cement
JSW Cement shares rose nearly 4 percent following strong interest in its highly anticipated mainboard IPO.
Consumer Durables
The Nifty Consumer Durable Index spiked 3.14 percent to an intra-day high of 38,503, with all 15 constituent stocks in the green. Some consumer durable stocks surged up to 10 percent intra-day, buoyed by expectations of GST reforms benefiting the sector.
KEC International
KEC International shares soared 7.6 percent to Rs 837.6 after bagging orders worth Rs 1,402 crore—including a 765kV transmission line project in India and export orders for towers and hardware in America.
Suzlon Energy
Suzlon Energy saw a continued downturn, falling more than 5 percent despite the overall market rally. The stock has now lost 10.5 percent over four sessions following its quarterly results, as profit-taking dominated sentiment.
Ashok Leyland
Ashok Leyland shares jumped 7 percent to Rs 130 post its Q1FY26 earnings. Robust operating performance and upbeat broker forecasts lifted investor sentiment and projected further gains.
Auto Stocks
The Nifty Auto Index was 4.6 percent higher by late morning. Key gainers included Ashok Leyland, Maruti Suzuki, TVS Motor, Hero Motocorp, Bajaj Auto, and Eicher Motors. Analysts anticipate the proposed GST reforms to have a notably positive impact on the auto sector.
Kotak Mahindra Secures UAE License for Fund Management
Kotak Mahindra International Limited (KMIL)—the global investment arm of Kotak Mahindra Bank—has achieved an important milestone by receiving approval from the Securities and Commodities Authority (SCA), UAE’s capital markets regulator. The newly granted license empowers KMIL to engage in Investment Fund Management and Portfolio Management activities throughout the United Arab Emirates.
This strategic development strengthens Kotak Mahindra’s international footprint and positions the group to offer a wider array of investment products and solutions to clients in the Middle East. The move aligns with Kotak Mahindra’s ambition to broaden its global operations, connect with new investor segments, and leverage Dubai’s position as a gateway to regional and world markets.
