GAAR Implementation differed by 2 yrs; Stock Market Zooms

The government of India deferred the implementation of General Anti-Avoidance Rules (GAAR) by two years on Monday. Following the move the BSE Sensex has touched the two years high and also crossed the psychological mark of 20,000 points.

On Tuesday, early trade, the stock markets in India have continued the momentum. At 10:30 am the BSE Sensex was at 19,923.18 points with 16.77 points up or 0.08 per cent gain. And the Nifty was at 6,030.55 points with 6.50 points up or 11 per cent gain.

Both the markets were opened in green on Tuesday early trade following the differ in GAAR implementation by two years and the decline in the headline inflation, that boosted possible rate cut by the Reserve Bank of India to boost the Indian economy.

The shares of the Tata Consultancy Services (TCS) soared to near 52-week high following the third-quarter report. The shares of TCS were at Rs. 1,438.