Sensex rebounds on GST collection, global cues

RIL showed biggest traction, surging 2.12% to Rs 1,564.15, followed by Adani Ports that rose 1.94%

A blockbuster start to the goods and services tax (GST) brought back optimism to the stock market as the benchmark BSE Sensex surged 258 points, or 0.82 per cent, to close at 31,646.46 on Wednesday and the NSE’s Nifty closed above 9,800, on improved risk appetite after US President Donald Trump’s measured approach to the Korean flare-up.

Metal and financial stocks turned favourites, in sync with upbeat global indices after lowering of the geo-political temperature. August derivatives contracts are set to expire on Thursday, which prompted liquidation of short positions. Investors’ wealth rose by Rs 1,54,494 crore.

The July tax collections so