Indian markets are likely to open negative tracking global cues and SGX Nifty.
Late afternoon yesterday government announced slabs of the proposed GST bill clearing a major hurdle in implementation of the new tax regime. The markets are expected to focus on the impact of the GST on individual sectors. More than 50% of the items in the Consumer Price Index basket would be exempted under GST and the remainder will be placed in the lowest bracket. This will lead to soften the inflation after implementation. Overall market is likely to react to the GST news.
U.S. markets closed lower Thursday marking the SP 500s longest losing streak since the depths of the financial crisis as Facebook shares slumped and investors fretted over election uncertainty. Markets are remaining focused on the outcome of next weeks U.S. presidential election.
UK markets fell on Thursday after the government lost a court case on how to trigger the process for leaving the European Union and the Bank of Engla
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