Mumbai, Sep 21 The coming week will be crucial for Indian equities as key global and domestic developments such as the rollout of GST 2.0, the hike in H-1B visa fees, updates on the India-US trade deal, along with FII activity, are expected to guide market momentum.
From September 22, the government will implement a new framework under GST 2.0.
The existing four-rate structure of 5, 12, 18 and 28 per cent will be reduced to two slabs -- 5 per cent and 18 per cent.
Taxes on several goods have also been cut, which will benefit consumers immediately.
Meanwhile, US President Donald Trump has announced a sharp increase in the H-1B visa fee to $100,000.
A large number of Indians are employed in the US on H-1B visas, and the move is expected to have a significant impact on the technology sector.
However, the Trump administration has clarified that this will be a one-time fee, applicable only to new visa applications.
On the trade front, any positive update on the ongoing India-US negotiations could also influence investor sentiment.
An American delegation is currently in India for talks, with both governments signalling that discussions are progressing in a constructive manner.
The domestic market ended on a strong note last week. The Nifty rose 0.85 per cent to close at 25,327.05, while the Sensex gained 721.53 points, or 0.88 per cent, to settle at 82,626.23.
Among sectoral indices, the Nifty PSU Bank index led the gains with a jump of 4.83 per cent during the week.
Realty stocks surged 4.43 per cent, energy gained 2.31 per cent, PSE advanced 2.19 per cent, and services added 0.95 per cent.
On the institutional front, foreign institutional investors (FIIs) sold equities worth Rs 1,327.38 crore, marking the lowest weekly outflow in several weeks.
Domestic institutional investors (DIIs) remained net buyers, pumping in Rs 11,177.37 crore.
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