Markets cheer GST regime: Sensex up 300 points, Nifty reclaims 9,600

ITC, HUL, Axis Bank, Dr Reddy's and ICICI Bank gained the most on the index

Benchmark indices was trading higher as investors cheered the new tax regime. Sensex gained as much as 337 points at open while Nifty50 touched 9,600 after a week of subdued performances. Ahead of the GST Nifty declined in six of the previous eight trading sessions, with automobile and banking stocks, in particular, underperforming the market. 

Moody's on Sunday also said GST will be credit positive for India. Implementation of the goods and services tax (GST) will be positive for India's rating as it would lead to higher GDP growth and increased tax revenues, Moody's Investors Service said. 

At 11:13