Last week, equity benchmarks ended on a strong note. The Sensex gained 739.87 points, or 0.92 per cent, while the Nifty advanced 268 points, or 1.10 per cent.Source : ABPLIVE_AI
Dalal Street witnessed a robust opening on Monday. Benchmark indices, Sensex and Nifty surged more than 1 per cent and started the session in green. The GIFT Nifty surged more than 300 points to cross 24,900, as of 7:57 AM.
The BSE Sensex opened the session above 81,400, jumping more than 800 points, while the NSE Nifty50 started trading at 24,935, clocking a gain of over 300 points, as of 9:15 AM.
In the pre-open session, the Sensex soared more than 900 points and crossed 81,500, as of 9:05 AM. During the same time, the Nifty climbed over 300 points to inch closer to 24,950.
Notably, analysts expect a buoyant week ahead for domestic markets, supported by a combination of policy signals, global cues, and an upgrade in India’s sovereign credit rating.
Prime Minister Narendra Modi, during his Independence Day speech, announced that the government is preparing for sweeping reforms in the Goods and Services Tax (GST) framework ahead of Diwali. The changes are expected to reduce the prices of daily-use items and address long-standing issues such as compliance burdens, tax evasion, and disputes. Market experts believe this announcement could provide a significant boost to investor confidence.
“The week ahead is likely to start on a cheerful note, as markets draw optimism from Prime Minister Narendra Modi’s Independence Day address. His statement on a potential GST rate reduction ahead of Diwali has the potential to significantly boost sentiment and lift equities out of the bear grip,” said Santosh Meena, Head of Research at Swastika Investmart.
This optimism is likely to be further reinforced by S&P’s decision last Thursday to upgrade India’s sovereign credit rating to ‘BBB’ with a stable outlook — the first such revision in over 18 years. The agency cited the country’s steady economic growth, the government’s commitment to fiscal discipline, and supportive monetary policy as key reasons behind the upgrade.
Meanwhile, easing concerns over fresh sanctions on Russia could prove favourable for India. “Going forward, the FII activity will be influenced by the action on the tariff front. Latest news of easing of tensions between the US and Russia and no further sanctions on Russia indicate that the secondary tariff of 25 per cent imposed on India is unlikely to come into effect after August 27th. This is a positive,” added Vijayakumar.
Last week, equity benchmarks ended on a strong note. The Sensex gained 739.87 points, or 0.92 per cent, while the Nifty advanced 268 points, or 1.10 per cent.
