Pre-market update (August 18): Dalal Street will open when PM Modi prompts GST reform; Gift nifty up 302 pts
Pre-market update: The Indian stock market is expected to be strongly opened by bullish sentiment following key policy signals and sovereign credit rating upgrades.
Prime Minister Narendra Modi in his Independence Day speech hinted that the next generation of GST reforms will be carried out by Diwali 2025, a move seen as a potential game-changer of economic efficiency and tax compliance.
S&P has increased its global viewership, upgrading India’s sovereign credit rating from BBB-to-BB with a stable prospect, the country’s first such upgrade in 18 years.
At 8:15 a.m., Gift Beautiful Futures rose 302 points at 24,920, indicating a positive start for the benchmark index Sensex and Nifty.
Global Tips:
At the end of the U.S.-Russian negotiations, Asian markets were mixed together and there was no ceasefire. Nikkei 225 rose 0.4%, while Kospi fell 0.8%. On Wall Street, the index weight of profit bookings fell 0.3% for the S&P 500, and Dow Jones ended with a slight positive bias.
Main market observations:
Regaal Resources IPO: Share the allocations to be completed today.
Studio LSD (SME): Open the subscription.
Today’s debut: ANB metal castings, Medistep Healthcare (NSE SME), Star Imaging and Path Lab (BSE SME).
