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Indian stock markets witnessed a significant decline on Tuesday as the government proposed to raise the tax on capital gains and on trading derivatives.
The NSE Nifty 50 and S&P BSE Sensex dropped about 1% each, trading at 24,225 and 80,024 respectively. Sitharaman announced that the Long Term Capital Gains taxes will be increased from 10 to 12.5% and Short Term Capital Gains taxes from 15 to 20%. After the announcement, the 30-share Sensex pack crashed over 400 points and briefly went below the 80,000-mark.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.
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Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.Nifty, too, is trading in the red. Sensex closed at 80,502.08 while the NSE benchmark ended at 23,537.85 on Monday.Titan, ITC, and Hindustan Uniliver are among the leading gainers among the BSE pack while the major losers include Power Grid, Bajaj Finance, and Larsen and Toubro. IT stocks like HCLTech, Infosys and Tech Mahindra are also in the red. The pre-budget Economic Survey, which was unveiled on Monday, noted that the IT sector hiring had slowed considerably in the last financial year; it is unlikely to pick up significantly.