GST Rolls Out The Red Carpet For Your Investment
May 26, 2017 | 17:35 PM IST
May 26, 2017 | 17:35 PM IST
Market This Week
The week started on a positive note as the final GST announcement gave tax slabs from 5% to 28% for all the goods and services segments. However, India-Pak geopolitical tension over border dragged the markets southwards in the latter part of the week. Correction in the market created a good opportunity for the domestic investors to enter at discounted prices. On the global front, the announcement of OPEC to extend oil production cut and Federal Reserve meeting minutes signalled a gradual run up to interest rate hike; which weakened the Indian Rupee against US dollar.
Movers And Shakers
Shakti Pumps has spiked up by 53% irrespective of market correction in last one week. The volume of the stock has surged as market identified a turnaround story in stock.
Meanwhile, Sintex plunged by approximately three-folds as one of the shareholders sold the majority of stake in the company.
The banking sector was flying high this week in the anticipation of the RBI policy regarding NPA. Most of the major bank stocks performed well.
Key Market Drivers
The GST rate announcement was the major market mover this week. GST gave a boost to FMCG, steel and auto sectors over improved tax slabs as compared to the previous tax rate. The market is keeping an eye on the last leg of fourth quarter results which will clear the entire picture of the companies' performance for FY17. In other news, fall in crude oil prices sent a positive signal to the aviation and paint companies as it will lead to improving the profitability of these companies.
Event Watch
Markets will be keeping an eye on the geopolitical tussles like India-Pak bordars worries and on the global front, tension at Korean Peninsula. As GST is going to be implemented soon, the market would start factoring its impact on the corresponding sectors. Monsoon is about to start in many parts of the country which will set the stage for Indian markets in coming times. Investors are looking out for the three years report card of the current NDA government which will help to ascertain what the government has in store for the next couple of years.
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