The Indian equity markets experienced a tumultuous day as both the Sensex and Nifty indices tumbled almost three percent on Monday.

Economists expect the first rate cut next quarter, as the central bank remains cautious about easing monetary policy amid strong economic growth.

India’s Goods and Services Tax (GST) collections surged by a robust 10.3 per cent to Rs 1.82 lakh crore in July.

Income tax returns (ITRs) touched a new record of over 7.28 crore, 7.5 per cent higher compared to previous fiscal, by the July 31.

The domestic share market indices snapped five-day winning streak and ended lower on Friday.

Indian benchmark indices ended higher for the fifth straight session on Thursday, led by rise in energy stocks.