- Wealth PMS (50L+)
USDINR and Nifty 50 are both going strong but today, they are where they were last week. Gold is super strong and it inched up another 2%. Crude is weak this weak and over the year as well (down 33%). S&P 500 was down 2.2% this week as the US markets try to find its feet again amidst inflation, failing banks, rate hikes and job cuts.
Consumer durable stocks were the top gainers this week with a 2.1% gain while private banks had tough week (or rather a tough Friday) as the index lost 1.9%. NSE 500 is about twice as it was 5 years back!
India’s GST revenues hit a record high of INR 1.87 trillion clearly indicating that economy is firing on all cylinders. The surge in GST collections indicates positive signs of growth and recovery, instilling confidence in the future of the Indian economy. The strong GST collections reflect increased economic activity, improved compliance, and effective tax administration.
The latest GST collections number, is quite literally off the chart!