By Admin 
Stock Market News: This week, the direction of the domestic stock market will be decided by many important factors. By Diwali, the declaration of major improvements in the Goods and Services Tax (GST) system, Putin-Trump Summit and S&P improve India’s credibility, can affect investors’ perception. At the same time, the trends of global markets and the stance of foreign investors will also play an important role in deciding the move.
Prime Minister Narendra Modi announced major reforms in the GST system till Diwali on Friday, which is likely to reduce the prices of everyday goods. Analysts believe that this move can increase the market enthusiasm. Santosh Meena, head of research of Swastika Investmart, said that investors are hopeful of the Prime Minister’s Independence Day address and a possible GST rate cut before Diwali can improve the notion of the stock market.
India welcomed the summit of US President Donald Trump and Russian President Vladimir Putin in Alaska, although the meeting did not reach any concrete result. Despite this, reports of reducing tension between America-Russia and not getting new restrictions on Russia are considered positive for the Indian market.
How will the market move?
Meanwhile, S&P has increased India’s credibility from ‘BBB-‘ to ‘BBB’ after more than 18 years. The rating agency has described the monetary policy that controls strong economic growth, fiscal discipline and inflation as its main reason. VK Vijaykumar, the main investment strategist of Jiojit Investments, said that this step can improve the perception of foreign investors (FIIs).
Meena further said that details of the US Federal Reserve meeting and the US economic figures will also affect the market globally this week. At the same time, Saurabh Aggarwal, Tax expert of EY India, termed the Prime Minister’s GST 2.0 vision as strategic and structural reforms raised on time to the Indian economy. Last week, the Sensex had climbed 739.87 points i.e. 0.92 percent and the Nifty 268 points i.e. 1.10 percent, due to which there is a positive atmosphere among the investors.
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