Indian shares opened higher after S&P Global Ratings upgraded India’s sovereign ratings and PM Modi promised GST reforms. The Sensex was up 1.4% at 81,743, Nifty up 1.6% at 25,014. Automakers surged on hopes of GST reduction on cars and two-wheelers. Bajaj Auto rose 4.6%, Hero Moto Corp 7.7%, Maruti Suzuki India 7.4%, Tata Motors 2.1%, Ashok Leyland 6.6%, Mahindra & Mahindra 4%. Other gainers include Hindustan Unilever, Trent, Bajaj FinServ, UltraTech Cement, Bajaj Finance. Zee Entertainment Enterprises rose 1% after announcing investments in subsidiaries. Trump-Putin Alaska summit ended without a deal, US-Russia ceasefire still possible.

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