Overview

• The Centre circulated the proposed two-slab GST framework to state governments and scheduled a finance ministers’ meeting for August 20–21 to secure cooperation for Diwali implementation.
• S&P Global raised India’s sovereign credit rating to BBB from BBB-, the first upgrade in 18 years, citing stronger fiscal metrics and stabilizing macro conditions.
• Domestic equities surged, with the Sensex gaining over 650 points intraday and the Nifty reclaiming the 25,000 mark as auto and consumer durable stocks led sectoral rallies.
• Analysts caution that the rebound remains fragile until the Nifty decisively breaks above 24,750–24,800 and foreign institutional investors reverse approximately ₹21,000 crore of net selling seen in early August.
• Market participants are watching the looming August 27 US tariff deadline and outcomes of upcoming global diplomatic talks for further catalysts or headwinds.