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?  

Markets Trade Marginally Higher
Mon, 8 Aug 11:30 am

After opening the day on a positive note, the Indian stock markets pared some gains but continued to trade in the green. Barring capital goods stocks, sectoral indices are trading on a positive note. Stocks from the oil & gas and realty sectors are leading the gains.

The BSE Sensex is trading up 89 points (up 0.3%) and the NSE Nifty is trading up 27 points (up 0.3%). The BSE Mid Cap index and the BSE Small Cap are also trading in the green, both up by 0.7%. The rupee is trading at 66.75 to the US$.

After getting a thumbs-up in the Rajya Sabha last week, the Goods and Services Tax (GST) Bill is now set to be ratified by the Lok Sabha today. Also, Prime Minister Narendra Modi is likely to intervene during the debate on the Bill in Lok Sabha.

For the early implementation of the Bill, senior Union Ministers have spoken to chief-ministers of NDA-ruled states to ensure that the constitutional amendment is ratified by the state assemblies at the earliest. One must note that the Bill has to be ratified by at least 16 states in 30 days after it is passed by Parliament. For this, the chief ministers have also assured that, if required, they will call a special session for the passage of the Bill in their respective state assemblies.

Last week, the Rajya Sabha, the upper house of Indian Parliament, passed the 122nd Constitutional Amendment Bill for the introduction of the Goods and Services Tax (GST). The Congress and BJP agreed on the landmark bill, allowing it to go through Rajya Sabha, with uncharacteristic ease.

Having said that, the tax is far from a done deal yet. As stated above, at least half the states still need to approve the legislation. Along with this, the GST council, a very important part of the process, will also need to be set up. It is this entity that will determine the GST rate and institute a dispute resolution mechanism.

The GST is to be implemented from April 1, 2017. If experts are to be believed, this deadline might be ambitious. Only time will tell how the actual ground reality regarding the passage of GST Bill and its implementation will emerge.

The questions for market participants is this - With the approval of GST, is this the time to buy stocks by the fistful? Rahul Shah, co-head of Research at Equitymaster, answered this question in a recent edition of The 5 Minute WrapUp.

Speaking of GST, my colleague Vivek Kaul, has brilliantly explained what you probably did not hear about GST from the mainstream media. I strongly recommend that you download Vivek's free report on the GST, 'What the Mainstream Media DID NOT TELL YOU About GST.'

Moving on to the news from the global space... US jobs data brought cheer to Asian and US stock markets. Data released showed that US - the world's largest economy - still is growing.

Non-farm payrolls data showed the US economy added 255,000 jobs in the month of July. This was seen as hiring increased broadly after an upwardly revised 292,000 surge in June. Economists had expected a rise of 180,000.

Once again, this puts a Fed rate hike back on the table. However, risks to global markets remain, particularly the continued fallout from the Brexit vote.

Also, the development led gold fall near its lowest level in a week. Market participants raised bets for a interest rate hike and cut their exposure for the yellow-metal. Asad Dossani, editor of Daily Profit Hunter, had stated that gold is going to crash and had even explained how one can make money trading gold.

To keep a tab on the global developments and the movements in gold and other commodities, you can read weekly market commentary from the Daily Profit Hunter team.

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 "Markets Trade Marginally Higher". 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


Oct 17, 2017 03:35 PM

MARKET STATS