Mumbai, Sep 4 : The domestic equity indices ended the session slightly up on Thursday amid volatility. The Sensex surged over 900 points in opening trade, driven by optimism over GST reforms. However, it lost most of the gains due to profit booking and selling in IT stocks.

Sensex ended the session at 80,718.01, up 150.30 points or 0.19 per cent. The 30-share index started the session with a massive gap-up at 81,456.67 against the last session's closing of 80,567.71 on the GST reform announcement.

Nifty closed at 24,734.30, up 19.25 points, 0.08 per cent.

"Markets witnessed a volatile session and ended marginally higher, supported by sweeping GST reforms that signalled a structural tax overhaul. The Nifty opened on a strong note, led by sharp gains in auto and consumer staples, but profit-taking and weakness in select heavyweights dragged the index lower as the day progressed," said Ajit Mishra, SVP, Research, Religare Broking.

Eventually, it closed with modest gains at 24,734.30. Sector-wise, auto, financials, and FMCG led the advance, while IT, energy, and realty were the notable laggards. The broader indices, however, underperformed after the recent upmove, losing over half a per cent each.

The GST 2.0 reforms strengthen the case for a consumption-led recovery, with auto and consumer staples expected to benefit the most. Select metals and infrastructure names linked to rural stimulus also remain in focus, said analysts.

Mahindra and Mahindra, Trent, ITC, HDFC Bank, ICICI Bank, and Asian Paint were the top gainers from the Sensex basket. While Maruti, BEL, HCL Tech, PowerGrid, Infosys, NTPC, Kotak Bank, Tech Mahindra, Tata Motors, Tata Steel, and UltraTech Cement settled in negative territory.

Sectoral indices showed a mixed reaction amid profit booking. Nifty Fin Services jumped 120 points or 0.47 per cent, Nifty Auto escalated 219.40 per cent, and Nifty FMCG increased 134.85 or 0.24 per cent, while Nifty Bank closed flat. Nifty IT fell 331.85 per cent or 0.94 per cent.

Broader Indices experienced selling pressure despite positive developments in the form of GST rationalisation. Nifty Small Cap 100 fell 126 points or 0.71 per cent, Nifty Midcap 100 slipped 286.35 points, while Nifty 100 settled the session flat.

Rupee traded weak at 88.11 down by 0.07, as FII remained sellers while GST reform expectations provided limited support.

/IANS