India has now switched to a simpler gst system with just 2 slabs- 5 and 18 % starting late september
this means stuff like cars, soaps, and even insurance got cheaper and that’s got the market buzzing big time
most sectors benefiting, gapped up like crazy today but closed lower.
On the economy front it’s a neat move. Spending power goes up which can push gdp growth up and inflation should cool down a bit too making life easier on wallets- since most essentials will get cheaper.
Just wondering how this plays into current market conditions.
I think we might see stocks come down a bit from this massive gap up today and then gear up for some great moves up, at least in the medium term.
What do you guys think? Will this revive the bull run and will we finish the year with a new all-time-high this year as analysts had predicted in the past?
