On Tuesday the Sensex closed at 34,195.94 points. The Sensex is trading at 34,460.40 points up by 264.46 points or 0.77 per cent.
With this, the Sensex has now lost 1,769 points since the Budget on February 1, which imposed a 10 per cent long-term capital gains tax on equities and projected a higher fiscal deficit than earlier targeted.
Between Monday and Tuesday, while the FPIs sold Indian equities worth Rs 3,589 crore, the DIIs pumped in Rs 2,862 crore in the market thereby acting as a counter-balance force and reducing the impact of FPI outflow.
Premier indices in India fell around 3 per cent and mid and small cap indices fell over 5 per cent. This is largely due to a global sell-off on concerns of overheating in the US market and expectations of a rate hike by the Federal Reserve System, the central bank of the United States of America.
Sensex, NSE markets: Indian markets witnessed a sharp fall following global cues and closed in the red. Here are the highlights of a day that saw a bloodbath on Dalal street.
With this, the market has plummeted 1,208 points after the Budget presentation in the last three sessions.
The CBDT, further clarified that long-term capital gains exceeding Rs 1 lakh arising from transfer of these asset made after April 1, 2018 will be taxed at 10 per cent.
Adhia said the 10 per cent tax on long term capital gains (LTCG) is a “subsidised rate” compared to the tax rate on sale of unlisted scrips and immovable property, which are taxed at 20 per cent.
Since February 1, the day Union Budget 2018-19 was presented, the 30-share Sensex has plummeted by over 1,208 points in three sessions and the NSE Nifty has lost 361 points during the three-day period.
Experts said people are starting to really get increasingly uncomfortable with the rapid rise in interest rates that they have seen and the uncertainty of how that is actually going to start to play out relative to competition for stocks.
Dalal Street witnessed mayhem Friday with the benchmark Sensex plunging 840 points. Worried investors dumped stocks across the board — they were also upset with the proposal of 10 per cent tax on distributed income from equity-oriented mutual funds.
Bajaj Auto, Axis Bank & Maruti Suzuki emerge as biggest losers of the day; 2,548 stocks decline
"Although the market is spooked by the announced increase in MSP prices, the actual inflationary impact is likely to be far more moderate, as the ruling market prices are higher in many cases," BofAML said in a research note.
The rupee depreciated by another 16 paise to 64.18 against the dollar in early session at the interbank foreign exchange on Friday due to concerns over widening fiscal deficit
The Centre on Thursday introduced a long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh, resulting in volatility in forex market.
Union Budget 2018: 10% long-term capital gains tax and higher fiscal deficit numbers send Sensex crashing by 750 pts intra-day; recoups losses on institutions-led buying
The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent.
Finance Minister Arun Jaitley announced 10 per cent tax on some long-term capital gains from equity market in the Union Budget 2018-2019.
A strong dollar in overseas markets weighed on the Indian currency, a currency dealer said.
Total securities that hit their price bands were 202. Turnover in the cash segment rose to Rs 37,714.83 crore from Rs 34,631.47 crore as on Tuesday. A total of 16,063.94 lakh shares changed hands in 12,880,450 trades.
The 30-share index fell by 124.28 points or 0.34 per cent at 35,909.45 in opening session as consumer durables, capital goods, IT, healthcare and teck stocks dropped.
The benchmark BSE Sensex was trading lower by 124.28 points or 0.34 per cent at 35,909.45 in early deals as investors turned cautious ahead of the budget
Sensex settled at 36,033.73, down 249.52 points, or 0.69%. The Nifty too closed lower by 80.75 points, or 0.73%
The BSE 30-share barometer fell by 162.24 points or 0.45 per cent to 36,121.01 with IT, teck, healthcare, metal, capital goods and banking stocks falling up to 0.68 per cent
The benchmark BSE Sensex was trading lower by 123.48 points, or 0.34 per cent, at 36,159.77 in early deals







