GST 2.0 Sparks Stock Market Rally
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🗞️ GST Reforms 2.0 sparks stock rally
PM Modi’s Diwali promise on GST reforms triggered a surge in markets, with over 40 stocks seen as potential beneficiaries. Analysts expect consumption-heavy, auto, FMCG, and logistics companies to gain significantly from the proposed tax rationalisation.
🗞️ Sensex jumps 676 pts on GST hopes
Markets cheered GST reform news, with Sensex closing 676 points higher and Nifty gaining 1%. Experts say sustained GST clarity could drive medium-term bullish sentiment.
🗞️ Vodafone Idea seeks AGR relief
Vodafone Idea has urged the government to resolve AGR dues, saying it will help the telco raise funds from banks by March. The company is exploring non-bank funding options as it looks to stabilise operations.
🗞️ GST rationalisation to hit eastern states harder
Experts caution that GST restructuring could lead to sharper fiscal adjustments for eastern states, which are more dependent on GST compensation and grants.
🗞️ 8 IPOs line up this week
Investors are eyeing a busy IPO calendar with Vikram Solar, Patel Retail, and Shreeji Shipping among 8 companies set to launch this week. Grey market premiums (GMPs) indicate strong demand in select issues.
🗞️ IndiGo & IDFC First Bank launch co-branded card
IndiGo has partnered with IDFC First Bank to launch a co-branded credit card offering benefits on travel bookings and exclusive rewards for frequent flyers.
🗞️ 23% of Jan Dhan accounts inactive
Out of ₹5.6 lakh crore under PM Jan Dhan Yojana, 23% of accounts remain inoperative. Experts suggest targeted financial literacy drives to improve usage.
🗞️ Rupee strengthens against USD
The rupee rose 23 paise to close at ₹87.36 against the US dollar, supported by equity inflows and easing crude oil prices.
📊 Market Update
Sensex: 81,273.75 ▲ (+0.84% / +676.09)
Nifty 50: 24,876.95 ▲ (+1.00% / +245.65)
Nikkei 225: 43,714.31 ▲ (+0.77% / +336.00)
SSE Composite: 3,728.03 ▲ (+0.85% / +31.26)
Rupee: ₹87.36 / USD ▲ (+23 paise)