India's stock markets rally from one-year lows on hopes for tax reform

Image
Reuters MUMBAI
Last Updated : Aug 25 2015 | 2:07 PM IST

MUMBAI (Reuters) - India's stock markets bounced back on Tuesday from their lowest levels in around a year after the government said it was considering reconvening parliament to make another attempt to pass the goods and services tax (GST).

Parliament failed to pass the GST bill earlier this month after it fell victim to an impasse over allegations of impropriety against Prime Minister Narendra Modi's cabinet and party colleagues.

The broader Nifty was up 0.91 percent at 1348 India time (0818 GMT) in a volatile trading session after earlier falling as much as 1.8 percent to its lowest since Aug. 12, 2014.

The benchmark BSE Sensex was up 0.97 percent after earlier falling as much as 1.7 percent to its lowest since Aug. 8, 2014.

(Reporting by Karen Rebelo; Editing by Rafael Nam)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 25 2015 | 1:56 PM IST

Next Story