Pre-market Update: Indian equity markets are poised for a strong opening, buoyed by bullish sentiment following key policy signals and a sovereign credit rating upgrade.
Prime Minister Narendra Modi, in his Independence Day address, hinted at next-generation GST reforms to be rolled out by Diwali 2025, a move seen as a potential game-changer for economic efficiency and tax compliance.
Adding to the optimism, S&P Global Ratings upgraded India’s sovereign credit rating from BBB- to BBB with a stable outlook—the country’s first such upgrade in over 18 years.
At 8:15 AM, GIFT Nifty Futures were trading 302 points higher at 24,920, indicating a positive start for benchmark indices Sensex and Nifty.
Global Cues:
Asian markets opened mixed after US-Russia talks ended without a ceasefire. Nikkei 225 was up 0.4%, while KOSPI fell 0.8%. On Wall Street, profit-booking weighed on indices—S&P 500 slipped 0.3 per cent, while the Dow Jones ended flat with a slight positive bias.
Primary Market Watch:
Regaal Resources IPO: Share allotment to be finalized today.
Studio LSD (SME): Opens for subscription.
Debuts Today: ANB Metal Cast, Medistep Healthcare (NSE SME), Star Imaging and Path Lab (BSE SME).
