Performance of Major Markets During the Week Ended 30th June, 2017

The decline in oil prices over the last three years has been one of the major drivers of global stock markets. Higher crude oil prices mean higher inflation for the US economy which approached 3% during the first part of 2017. US markets ended lower by 0.6% this week.
 
Meanwhile, Brazilian markets rose higher this week as shares of state-controlled oil company PetrÓleo Brasileiro SA rose higher along with crude oil prices. Brazilian markets have been volatile lately owing to uncertainty related to the country's political crisis. Brazilian president Michel Temer was under a political storm after bribery allegations surfaced against him earlier this year. The Brazilian market closed the week up by 2.3%.

Back home, Indian share markets concluded a historic week with the nationwide launch of GST at the stroke of midnight today. Implementation of GST promises to transform India into a single common market and there are many sectors which will gain immensely from this transition. The implementation of the same is bound to bring more companies under the new tax regime, thus providing a level playing field to organized players that face huge competition from the unorganized segment. Although markets are bound to be turbulent due to short term uncertainty across sectors as the GST is implemented. The Indian stock market ended the week lower by 0.7%.