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Stock impact report

Nifty, Sensex gain ahead of tax council meet [Reuters]

HDFC Bank Limited (HDB) 
Company Research Source: Reuters
Nifty, Sensex gain ahead of tax council meet - Reuters 2 Min Read (Reuters) - Indian shares traded higher on expectations that the government will dole out stimulus measures on Friday to support the economy, amid demands over reduced tax burden on products. The broader NSE Nifty was up 0.21% at 10,727.6, as of 0412 GMT on Friday, while the benchmark BSE Sensex was trading 0.3% higher at 36,205.52. The country’s Goods and Services Tax (GST) Council is set to meet in Goa to recommend tax cuts on 20-25 products, sources told Reuters. The GST council meeting comes amid demands raised by various industries and consumers for government help to boost a sagging economy. Separately, Reserve Bank of India chief Shaktikanta Das said there is room for further interest rate cuts to bolster economic growth since inflation continues to remain within the central bank's target, other media reported here The rupee strengthened by 0.26% to 71.11 against the dollar, while the benchmark 10-year bond yiel Show less Read more
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