Indian equity markets turned positive in late afternoon session supported by mostly positive global market clues. Besides, traders took some support after the commerce and industry minister Piyush Goyal said that India's exports during the current financial year (FY26) would be higher than 2024-25. He also said the industry has committed to pass on the benefits of the GST rate reduction to consumers. However, gains remained capped as IT stocks came under selling pressure amid rumours of U.S. President planning to impose tariffs on Indian IT companies.

On the global front, Asian equity markets were trading mostly in green as weak U.S. labor market data reinforced expectations of a Federal Reserve rate cut later this month. European equity markets were trading mostly in green after U.K. retail sales rose by 0.6 percent in July against expectations of 0.2 percent, as shoppers splashed out on clothing and footwear.

The BSE Sensex is currently trading at 80765.59, up by 47.58 points or 0.06% after trading in a range of 80321.19 and 81036.56. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.06%, while Small cap index was up by 0.28%.

The top gaining sectoral indices on the BSE were Auto up by 1.38%, Telecom up by 1.13%, Consumer Discretionary up by 0.74%, Metal up by 0.47% and Consumer Durables up by 0.31%, while IT down by 1.13%, FMCG down by 1.13%, Realty down by 1.03%, TECK down by 0.54% and Industrials down by 0.10% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.71%, Bharti Airtel up by 1.26%, Reliance Industries up by 1.20%, Eternal up by 1.19% and Maruti Suzuki up by 1.11%. On the flip side, ITC down by 2.13%, TCS down by 1.48%, HCL Technologies down by 1.33%, Tech Mahindra down by 1.27% and Infosys down by 1.21% were the top losers.

Meanwhile, Hailing the GST Council's decisions as a boost for IT services and e-commerce, Nasscom said the measures - aimed at easing compliance, improving cash flows, and minimising disputes - will buoy India's technology exports and enable greater ease of doing business. The industry body welcomed the setting up of GST Appellate Tribunal (GSTAT), which is set to become operational, with appeals opening by September 2025 and hearings commencing by December 2025. The tribunal will speed resolution, and its Principal Bench, acting as the national advance ruling authority, will reduce state-wise divergence. 

Nasscom said on September 3, 2025, the GST Council took important decisions to benefit IT-enabled services and e-commerce by easing compliance, releasing working capital and reducing disputes. These measures bolster India's tech industry export engine while reinforcing the momentum toward greater ease of doing business. The Council recommended the omission of section 13(8)(b) of the Integrated GST (IGST) Act, which previously stipulated that the place of supply for intermediary services would be the location of the service provider. It said this means that the ‘place of supply’ for intermediary services will now be determined by the customer's location, restoring the export status and refund eligibility for IT-ITES services delivered from India. This restores export status and refund eligibility for services delivered from India and aligns the regime with international practice, removing the misclassification risk. This has been a major issue for disputes, litigation and denial of refund of input credit for our industry, especially IT enabled services.

It said to boost e-commerce growth and market access for Micro, Small, and Medium Enterprises (MSMEs), the Council has also approved a simplified registration process for small suppliers selling goods through e-commerce platforms across states. This will significantly reduce the need for multiple registrations, lowering entry barriers and enhancing market access. Furthermore, the Council has clarified the treatment of post-sale discounts. Allowing value reductions through credit notes with matching input tax credit adjustments, together with guidance on promotional schemes, will bring predictability for supply chains. It noted that this matters for ecommerce promotions and channel programmes as it will reduce disputes and reconciliation effort for platforms, sellers and brand owners. It will also help IT and ITES firms that sell software or subscriptions domestically.

The CNX Nifty is currently trading at 24749.15, up by 14.85 points or 0.06% after trading in a range of 24621.60 and 24832.35. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 2.62%, Eicher Motors up by 2.50%, Eternal up by 1.35%, Shriram Finance up by 1.34% and Bharti Airtel up by 1.20%. On the flip side, ITC down by 2.14%, TCS down by 1.48%, HCL Technologies down by 1.28%, Tech Mahindra down by 1.25% and Infosys down by 1.24% were the top losers.

Asian equity markets were trading mostly in green; Nikkei 225 surged 403.73 points or 0.94% to 42,984.00, Hang Seng advanced 369.49 points or 1.45% to 25,428.00, Taiwan Weighted added 314.73 points or 1.28% to 24,494.58, Straits Times rose 14.86 points or 0.34% to 4,311.69, Shanghai Composite strengthened 46.63 points or 1.22% to 3,812.51 and KOSPI increased 4.29 points or 0.13% to 3,205.12.

European equity markets were trading mostly in green; UK’s FTSE 100 increased 21.37 points or 0.23% to 9,238.24 and Germany’s DAX gained 20.17 points or 0.08% to 23,790.50, while France’s CAC fell 5.72 points or 0.07% to 7,693.20.