October GST data signals steady domestic demand momentum

India’s October GST collections rose 4.6% year-on-year to roughly ₹1.95 lakh crore, supported by firm domestic demand and improved compliance. Officials flagged higher net revenue after refunds, while import-related collections improved. The print signals steady consumption momentum into the festive period and early November. Economists said the trend affords fiscal-math breathing room as capex continues apace. Traders see a mild positive for discretionary names, though valuations and global risk cues should continue to drive near-term market direction across equities broadly speaking cautiously.