<h1>GST reform boosts investor sentiment as draft proposes tax-slab consolidation, prompting equity markets to rally.</h1> Proposed comprehensive GST reform circulated to states for implementation before Diwali would consolidate most goods and services into lower standard rates, moving large portions of the tax base into 5 per cent and 18 per cent slabs; sectors currently in higher slabs, such as autos, cement and insurance, are expected to benefit, and these regulatory expectations have directly driven equity market gains and sectoral valuation shifts.