Ahead of the GST table being presented in the Lok Sabha, the benchmark indices have gained ground after falling flat. This was not the case however for other Asian markets which were trading mixed in the morning market.
The S&P BSE Sensex was trading at 29442 levels at 12:15 am which is up 117 points. The Nifty 50 was however at 9116 which was up by 30 points. Interestingly, Union Finance Minister Arun Jaitley had pointed out that a solution was in the offering for growing nonperforming assets crisis in the coming days. The Nifty PSU Bank Index had gained more than 2 percent in the past few days. This is now being linked to the point which Arun Jaitley had made.
The banking stock of major banks as Bank of India (BOI), Syndicate Bank, Oriental Bank of Commerce and Union Bank of India has grown by 2% in the last few days. This is also the fallout of the process being initiated for the tabling of Goods and Service Tax bill.
The Dow Jones Industrial Average index has also edged by 4.72 points while the S&P 500 index has fallen by 2.49 points. In comparison, the Nasdaq Composite Index has declined by 3.95 points.