Mumbai, Oct. 22 -- Domestic equity markets rose following robust macroeconomic indicators, as India's economy expanded by 7.8 per cent YoY in Q1 FY26, marking the strongest growth in five quarters.
The services PMI surged to 62.9 in August 2025. its highest level in over 15 years, driven by a sharp rise in new orders and resilient demand, according to ICRA Analytics.
Sentiment was further boosted as the GST Council simplified the existing four tax slabs (5 pc, 12 pc, 18pc, 28 pc) into a two-rate structure of 5 pc & 18pc and proposed a special 40 pc slab for select luxury items such as high-end cars, tobacco, and cigarettes.
Gains extended after the US Federal Reserve delivered its first rate cut of the year in September 2025, citing rece...