Deepawali Till a major improvement in GST system, Putin-Trump Summit and S&P improving India’s credibility can affect the domestic stock market move this week. Experts said that apart from this, the trend of global markets and the attitude of foreign investors will also affect the perception of domestic investors.
Prices of everyday goods will be reduced
Prime Minister Narendra Modi announced major reforms in the GST system till Deepawali on Friday, which will reduce the prices of everyday goods. Santosh Meena, the research head of the Swastika Investmart, said, “This week the market is likely to start with enthusiasm, as the markets are expected from Prime Minister Modi’s Independence Day address.” His statement of possible cuts in GST rates before Deepawali can improve the market notion and can come out of the custody of the stock market lethargy. ‘
S&P did India’s credibility BBB
Meanwhile, India on Saturday welcomed the summit between US President Donald Trump and Russian President Vladimir Putin in Alaska. However, the dialogue ended without any conclusion. The S&P on Thursday laid ‘BBB’ India’s credibility with a stable approach after more than 18 years, citing ‘favorable’ monetary policy for strong economic growth, political commitment to fiscal consolidation and inflation.
FII activities will be affected by the action on tariff
The main investment strategist V.K. of Jiojit Investments Limited, V.K. Vijaykumar said, “FII activities will be affected by the action on tariffs in the coming days. There are reports of reduced tension between the US and Russia and no further ban on Russia are indicated that an additional tariff of 25 percent imposed on India will not apply even after August 27. This is a positive aspect. “He further said,” Rating agency S&P’s credit rating from BBB-to BBB can affect the attitude of FII. “
Market will also be eyeing the meeting of US Federal Reserve
Santosh Meena said that the details of the US Federal Reserve meeting on the global front and the US comprehensive economic data will also be an eye on the market. Tax partner of EY India Saurabh Aggarwal said, “The Prime Minister’s perspective for GST 2.0 is a strategic step taken from a timely Indian economy. These are not only procedural changes, but essential structural reforms, which have been brought to reduce the risks arising from global trade stress.
Latest business news
