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Markets to make a green start on positive regional cues

LKP Securities | 11 Sep, 2017  | Follow Author | Add to my Favourites 
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The Indian markets despite a lackluster trade in last session managed a modestly positive close. Today, the start is likely to be in green and some upmove can be expected in early deals supported by the good regional cues.


Traders will be reacting to the outcome of the crucial meeting of the Goods and Services Tax (GST) Council that took place on Saturday, where the council cut GST rate for over 40 items of mass consumption.


There will be some buzz in the auto sector stocks, as the GST Council raised the cess on motor vehicles--mid-size cars, large cars and sports utility vehicles-- by 2%, 5% and 7% respectively instead of whole 10% increase effected in the law, while keeping the overall tax incidence within 50%.


There will be some action in the markets, as the investments in the domestic capital market through participatory notes (P-notes) slumped to a five-year low of Rs 1.35 lakh crore in July amid stringent norms put in place by Sebi.


The power sector stocks too will remain in action, as Fitch Ratings in its report has said that India may produce surplus power in the current financial year but sporadic outages continue to plague the country and 24 per cent households are yet to be electrified.


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About LKP Securities

What started as one of India’s first securities brokerage houses in 1948 is today one of the country’s largest multi dimensional financial services group. LKP Securities is a Non Banking Finance Company (NBFC) registered with Reserve Bank of India & a listed public limited company having a networth of Rs.142 crores as on FY10. They are India's first financial group to be awarded the prestigious ISO 9002 certified KPMG Quality Registrar, USA, for certain businesses.

 

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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