Mumbai, Aug. 18 -- The domestic equity indices traded with major gains in early trade supported by hopes of big changes to the GST system and a recent upgrade to India's credit rating. On the occasion of Independence Day, Prime Minister Narendra Modi said the government plans to bring "generational" GST reforms before Diwali, which could benefit sectors like auto, FMCG, and consumer goods. However, global worries remain, including the Russia-Ukraine conflict and possible 25% US tariffs on Indian products starting August 27.

The Nifty traded above the 24,950 mark. Auto, consumer durables and private bank shares advanced while pharma and IT shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 1,037.49 points or 1...