Global Market Update

Advisory Bazaar Info Services

* US Equity Markets: Closed with a slight decline.

* European Equity Markets: Mostly ended flat, except for CAC.

* Asian Equity Markets: Trading mixed after US stocks and bonds fell as investors reduced bets on an imminent Federal Reserve rate cut.

* GIFT Nifty: Down by 75 points, Nifty futures likely to open around the 25,050 levels.

* Crude Oil: Prices steady as investors track Russian crude flows to India. A Trump administration official strongly opposed this trade and hinted at higher tariffs. Brent trading below $68/barrel.

* India GST Update: A major step towards simplifying the indirect tax framework. The committee of state finance ministers has proposed a 40% special GST on high-end luxury cars, aligning it with the tax structure on tobacco and other “sin goods.” The aim is to streamline the current multi-slab GST structure.