GST booster fails to charge up markets

SHANKAR SHARMA, FOUNDER of Gquant Investec, said: "The market wants actual numbers to reflect the policy measures. This is an old, aging, frail bull market, and at this age, clinical evidence has to be there. The GDP numbers were a big disappointment, with nominal GDP growth rate being a measly 8.8%, the lowest since 2019. These numbers are extremely concerning to the market."

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Saurabh Mukherjea, founder of Marcellus Investment Managers, is worried about tariffs. "GST cuts only partially offset the damage from Trump tariffs; the largest export destination has jammed us," he said.

Arun Kejriwal, founder at Kejriwal Research and Investments, noted that in addition to tariffs, over the last three or four days, the first-quarter result summary was also being assessed. "Both of these are taking its toll and negating all the good that comes from the GST," he said, adding that the impact of these measures will be witnessed in the third-quarter results of companies.