Benchmark Sensex plummeted 840 points on Friday — its biggest single-day fall in two-and-a-half years — while the NSE Nifty ended below the 10,800-mark as the post-Budget sell-off continued for the second straight day.<\/p>\n
The Budget 2018-19 presented on Thursday imposed long- term capital gains tax of 10 per cent on equities.<\/p>\n
Investors will also have to pay 10 per cent tax on distributed income from equity-oriented mutual funds.<\/p>\n
Market mood suffered another setback after Fitch Ratings on Friday said high debt burden of the government constrains India’s rating upgrade.<\/p>\n
The flagship Sensex crashed 839.91 points, or 2.34 per cent to end the day at 35,066.75 as jittery investors sold off shares across all sectors.<\/p>\n
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.<\/p>\n
The broader NSE Nifty cracked below the 10,800-mark by tanking 256.30 points, or 2.33 per cent, to 10,760.60 at close. Intra-day, it hit a low of 10,736.10.<\/p>\n
Presenting the Budget on Thursday, Finance Minister Arun Jaitley also projected a fiscal deficit of 3.5 per cent of GDP for current fiscal against the earlier target of 3.2 per cent, which also accelerated pace of selling by participants.<\/p>\n
Domestic institutional investors (DIIs) sold shares worth Rs 358.50 crore, while foreign portfolio investors net bought shares worth Rs 1,099.780 crore on Thursday, as per provisional data.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
Benchmark Sensex plummeted 840 points on Friday — its biggest single-day fall in two-and-a-half years — while the NSE Nifty ended below the 10,800-mark as the post-Budget sell-off continued for the second straight day. The Budget 2018-19 presented on Thursday imposed long- term capital gains tax of 10 per cent on equities. Investors will also have to pay 10 per cent tax on distributed income from equity-oriented mutual funds. Market mood suffered another setback after Fitch Ratings on Friday said high debt burden of the government constrains India’s rating upgrade.…<\/p>\n","protected":false},"author":1,"featured_media":6618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,4],"tags":[],"_links":{"self":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/6826"}],"collection":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6826"}],"version-history":[{"count":2,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/6826\/revisions"}],"predecessor-version":[{"id":6828,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/6826\/revisions\/6828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/media\/6618"}],"wp:attachment":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}