Stock markets rebound as GST revenues hit record in April
7 months, 3 weeks ago

Stock markets rebound as GST revenues hit record in April

The Hindu  

Stock markets rebounded on Thursday with benchmark Sensex closing higher by 128 points as record GST collections in April, positive manufacturing data, and foreign fund inflows boosted investor sentiment. Goods and Services Tax collections grew 12.4% to a record high of ₹2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday. India's manufacturing sector activity moderated in April but still recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index fell from 59.1 in March to 58.8 in April, signalling the second-best improvement in the health of the sector for three-and-a-half years.

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