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Stock Market Today: On Wednesday, amid the two-day GST Council meeting that began on September 3, the stock market opened on a positive note but soon lost momentum. The Sensex fell by 100 points, and the Nifty slipped below 24,600. After recovering from a three-day losing streak on Monday, the market is once again under pressure.
Buying was seen in the metal and banking sectors, while IT and realty stocks dragged the market down. Auto and consumer shares showed slight gains, but overall, pressure remained on banks and IT.
This meeting, chaired by Nirmala Sitharaman, is expected to take crucial decisions on GST reforms, which are being considered a big step toward tax reform. It is taking place at a time when the value of the rupee continues to fall, and the U.S. has imposed tariffs of up to 50% on India—25% of which is linked to India’s purchase of cheaper oil from Russia.
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