GST holds the potential to boost economic activity substantially. It would enable more seamless and efficient crediting of taxes, experts said.
The GST will boost GDP growth, help bring efficiencies in logistics and distribution sector and eliminate a lot of paperwork. It will also improve margins, say experts.
Total Put open interest of 43.48 lakh contracts stood at strike price 8,500, which will act as a crucial base for the market, followed by strike price 8,600.
‘Bearish Belt Hold’ pattern is formed when opening price becomes highest point of the trading session, which means there is no upper shadow.
GDP and earnings targets have been revised downward continuously and yields have fallen as central banks have continued to experiment with monetary policies.
It reported a 6.5 per cent QoQ and 10 per cent YoY growth in dollar revenues to $1691 mn. The net profit rose 7.1 per cent QoQ and about 9.5 per cent on YoY basis.
The good monsoon forecast also lifted sentiments on Dalal Street.The Nifty50 surged over 4 per cent in July to record its fresh 52-week high of 8,674.70.
On an average the Nifty50 has given a negative returns of nearly 1% in last 10 years. The index saw deep cuts of over 5% in August in three out of 10 years.
Small Bearish candle is formed when index trades lower within a defined range throughout the session. The length of candle signifies range for the day.
Rollover of Nifty contracts to the August series stood at 63 per cent on Thursday compared with an average rollover of 75 per cent in the last three series.
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