New Delhi, Sept. 12 -- Following the government's GST rationalisation, the automobile and consumer durables sectors have emerged as the biggest beneficiaries, with expectations that rate cuts could revive sales that have remained stalled in recent quarters amid weak urban demand.

Stocks from both sectors have witnessed strong gains, providing significant support to the Indian stock market, which has remained buoyant since the rollout of the new consumption tax rates on September 3. The move lowered tax slabs on several consumer durables and automobiles, boosting investor sentiment and creating optimism for a consumption-led recovery.

However, the market movement remained restrained due to higher US tariffs, overshadowing the domestic po...