Indian equity benchmarks continued to trade in fine contour in morning deals, driven by buying in blue-chips Tech Mahindra, Adani Ports &SEZ and TCS amid firm global cues. Besides, optimism over an impending India-US trade deal supported the investors' sentiment. Traders took some support with Union Finance Minister Nirmala Sitharaman’s that the implementation of next generation GST reforms on September 22 has led to a growth in sales across sectors, including automobiles, consumer durables, e-commerce among others. Further, Sitharaman said her Ministry would continuously work on further simplifying the Goods and Services Tax system. Traders took note of Commerce and Industry Minister Piyush Goyal’s statement that India wants a fair, equitable, balanced trade deal with the US and it will not compromise on the interests of farmers, fishermen, and the dairy sector. On the global front, Asian markets are trading mostly in green following signs that the US government shutdown could end soon and amid data pointing to a cooling jobs market, which has raised expectations of a Federal Reserve interest rate cut.

The BSE Sensex is currently trading at 84464.62, up by 593.30 points or 0.71% after trading in a range of 84166.75 and 84485.12. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.35%, while Small cap index was up by 0.63%.

The top gaining sectoral indices on the BSE were IT up by 1.59%, TECK up by 1.45%, Auto up by 1.02%, Energy up by 0.86% and Oil & Gas up by 0.82%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Tech Mahindra up by 2.60%, Adani Ports &SEZ up by 1.93%, TCS up by 1.87%, Eternal up by 1.77% and Infosys up by 1.45%. On the flip side, Tata Motors Passenger down by 0.55%, Hindustan Unilever down by 0.24%, Maruti Suzuki down by 0.24%, Bharat Electronics down by 0.20% and NTPC down by 0.20% were the top losers.

Meanwhile, Union Finance Minister Nirmala Sitharaman has said that the implementation of next generation GST reforms on September 22 has led to a growth in sales across sectors, including automobiles, consumer durables, e-commerce among others. Further, Sitharaman said her Ministry would continuously work on further simplifying the Goods and Services Tax system.

She said Prime Minister Narendra Modi has been stressing the simplification of GST norms, rate cuts and product classifications. She said ‘He (Prime Minister Narendra Modi) wanted to ensure that small traders should benefit from GST reforms as it is they who take the products to the rural parts of the country.’

Moreover, she said ‘There have been several rounds of discussions and every time the prime minister has been extending all his support for the introduction of the next generation GST reforms. She stated as per his view, the rates have been reduced and classifications of the products has been simplified. she added ‘Now, there are only two rates -- 5 per cent and 18 per cent (as GST).’

Besides, talking to the 40 per cent GST tax levied on some products, Sitharaman said, ‘Those products which are described as super luxury products are taxed at 40 per cent. They are also called as SIN goods. For example, tobacco products like cigarettes come under this category.’

The CNX Nifty is currently trading at 25871.65, up by 176.70 points or 0.69% after trading in a range of 25781.15 and 25878.00. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 5.11%, Tech Mahindra up by 2.59%, TCS up by 1.90%, ONGC up by 1.86% and Adani Ports &SEZ up by 1.74%. On the flip side, JSW Steel down by 0.68%, Shriram Finance down by 0.67%, Tata Motors Passenger down by 0.55%, SBI Life Insurance down by 0.53% and Maruti Suzuki down by 0.35% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 102.07 points or 0.2% to 50,945.00, Taiwan Weighted added 273.47 points or 0.97% to 28,058.42, Jakarta Composite gained 37.19 points or 0.44% to 8,403.71, KOSPI increased 42.32 points or 1.02% to 4,148.71, Hang Seng advanced 144.59 points or 0.54% to 26,841.00 and Straits Times rose 17.26 points or 0.38% to 4,559.46.

On the flip side, Shanghai Composite weakened 11.78 points or 0.3% to 3,990.98.