Markets open higher as GST Council allows late filing for first 2 months

Benchmark indices opened higher after  Finance Minister Arun Jaitley said India will launch a new national Goods and Services Tax (GST) as planned on July 1and gave return filing breather to India Inc for two months. Global stocks were steady tracking Wall Street’s uninspiring performance, as investors braced for start of Brexit talks. At 9:17 am, the S&P BSE Sensex was trading at 31,191, up 135 points, while the broader Nifty50 was ruling at 9,626, up 38 points. In broader market, S&P BSE Midcap gained 0.4% while the S&P BSE Smallcap rose 0.5%. "A fortnight long consolidation has seen prices slipping systemically and at a slow pace, devoid of much drama.This has significantly raised the the chances of an upswing that could potentially fast track the race to 10k. Alternatively, a direct fall below 9,540 negate all such possibilities, and will push the upside prospects away for the near term, at least until 8,900 is seen," said Geogit Financial Services in a note. Commodity Trading Tips