X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Continues Momentum; Telecom Stocks Witness Buying
Tue, 28 Mar 11:30 am

After opening the day on a firm note, Indian share markets maintained their momentum and are presently trading in the green. Sectoral indices are trading on a positive note with stocks in the telecom sector and banking sector leading the gains.

The BSE Sensex is trading up 189 points (up 0.7%) and the NSE Nifty is trading up 57 points (up 0.6%). The BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 65.12 to the US$.

In a major news from the domestic financial markets, Finance Minister Arun Jaitley introduced four items of legislation that provide for a peak goods and services tax (GST) rate of 40% and the setting up of an authority to protect consumers from profiteering by businesses.

The 40% levy will be allocated equally between the Centre and the states.

Also, a few important changes have been proposed in the bills including zero rating of supplies to special economic zones (SEZs), introduction of duty drawback and the exclusion of Jammu and Kashmir from the definition of 'India' for GST purposes.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

With the above developments, the government has set the stage for tabling the bills in Parliament and implementing the landmark tax reform by 1 July 2017. The passage of the Bills by Parliament will pave way for states to introduce state GST (SGST) Bills in their respective houses.

The Goods and Service Tax (GST) is one of the key reforms that will bring about a structural change in the Indian economy. The implementation of the same is bound to bring more companies under the new tax regime, thus providing a level playing field to organized players forming part of sectors having a high proportion of the unorganized segment.

Shrinking share of India's informal economy

Shrinking share of India's informal economy

Apart from the GST, the Notebandi move by the government will also lead to a value migration from unorganised players to organized players. And companies with solid fundamentals and a competitive moat will capture most of this value.

Our Hidden Treasure team is already on the lookout for opportunities in such companies.

The team consciously make it a point to visit factories and meet management of companies in niche business, at obscure locations. We obviously do not expect all of them to make it to our recommendations... But the few that do are a potential goldmine of sorts in the post demonetization era.

In other news, private forecaster Skymet said that India is likely to receive below-normal rainfall this year owing to an evolving El Nino.

If the forecast turns true, it could prove worrisome for the economy. It can also weigh on many sectors in the economy. The most affected could be the FMCG sector where the companies are eyeing rural consumption to fuel demand.

To protect itself from below-normal rainfalls, India needs to focus on drought mitigation measures that would solve the problem in the long-run. It needs to consider actions that must be taken in years of normal rainfall to build lasting resilience against droughts.

There are many ways to go about this. One is to preserve rainwater during non-drought years. For this, there more water storage facilities need to be added. Also conservation agriculture techniques need to be introduced. Even prevention of water wastage can help a lot.

All of these measures, if adapted efficiently, can work out a great deal to lessen the damage of poor rainfall on the Indian economy.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Sensex Continues Momentum; Telecom Stocks Witness Buying". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 26, 2017 03:35 PM

MARKET STATS