Morning Buzz: From stock market indices hitting all-time highs to double-digit increments, and more

The Indian stock market indices hit all-time highs, driven by a fresh round of foreign investor inflows. Image: Mexy Xavier

Markets hit all-time high; Nifty at 19K

The Indian stock market indices hit all-time highs, driven by a fresh round of foreign investor inflows. The Sensex closed up by 0.79 percent at 63915. Investors are betting that India’s macroeconomic fundamentals make it a bright spot in a world where growth is slowing down. The Adani group received another shot in the arm with a fresh $1 billion investment from GQG Partners.

(Economic Times, Business Standard, Mint, Hindu BusinessLine)

Overseas credit card spends to not attract tax

The government put off till October 1 a decision to increase the tax on overseas spends of above Rs7 lakh. Credit card spends, irrespective of the amount, would not attract any tax. For tour packages, spends of over Rs7 lakh would attract tax collected at source of 20 percent. Below this amount, 5 percent would be collected. With this, the government has indefinitely put off the implementation of the May 19

circular with regard to credit card spends overseas.

(Economic Times, Business Standard, Financial Express)