GDP data, GST meet to decide D-St direction

MUMBAI: Tariff-related developments, the strong GDP numbers for the June quarter of the year that govt announced on Friday and the ensuing meeting on GST rejig are expected to have a balancing effect on Dalal Street investors during the week. With foreign funds continuing to sell Indian stocks, the rupee could come under renewed pressure, market players said.Last week, the sensex lost nearly 1,500 points or nearly 2%. Most of the losses in the benchmark indices were in the last three sessions of the week, after the higher US tariffs kicked in on Aug 27, which was a trading holiday. On Friday, after the markets closed, the govt said that in Q1FY26 India's GDP had grown by 7.8%, compared to 7.4% the previous quarter, beating estimates of most economists and analysts. In the face of all US tariff-related uncertainties, this could be a market stabilising factor during the week, brokers said.Trading on the Street in the new week will also depend on foreign funds' trading behaviour. In Aug, FPIs had net sold Indian stocks worth nearly Rs 39,100 crore, taking the total for 2025 to close to Rs 1.71 crore. The FPI selloff has also weakened the rupee against most major currencies.