GST Bill’s passage may not boost markets

Indian markets were in positive mode during the week ended, enthused by outcome of US Fed meeting outcome, indications of GST Bill being tabled in the Rajya Sabha, good progress of monsoon and better than expected Q1 earnings. The Sensex and the Nifty closed 249 points and 97 points higher at 28052 and 8639 respectively. The midcap index continued to outperform the frontline indices reflecting the underlying positive momentum in the markets. Recent approval by the Union Cabinet for hike in the foreign shareholding limit in stock exchanges, a depository, a banking company, an insurance company and a commodity derivative exch-ange from five to 15 per cent has been received positively. Expectations over passage of GST Bill are high. However, sceptics say that GST is already factored by the markets,…


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