Indian Markets Headed for a Strong Start After Lower Consumption Tax

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian stocks are gearing up for a bright start after a key tax panel cleared the way for lower consumption taxes. Nifty futures are already up more than 0.5%, setting the tone for a cheerful Thursday open. The spotlight will likely be around consumer-driven sectors — from carmakers to everyday essentials — with many goods now enjoying trimmed tax rates. Insurance companies, whose pleas to keep tax rates steady went unheard, would likely be the only ones not joining the party.