Indian shares surged after Prime Minister Narendra Modi announced a major tax overhaul, with 90% of items in the 28% slab moving to 18%. Most goods in the 12% slab will shift to 5%, making essential goods cheaper. S&P upgraded India’s rating to BBB, reflecting positive growth prospects despite U.S. tariffs. In international news, a summit between Trump and Putin led to Russia offering security guarantees for Ukraine. The BSE Sensex and NSE Nifty closed higher, with Maruti Suzuki and Bajaj Finance among the top gainers. Market breadth was strong, with mid-cap and small-cap indexes also rising.

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