Press Esc to close
Thursday 18 December 2014
News updated at 1:54 PM IST
Weather
Max: 26.2°C
Min : 19.5°C
In Bengaluru
Generally cloudy

Sensex declines 124 pts on higher tax proposals

Mumbai, Feb 28, 2013 (PTI)
File Photo

Wiping out early gains, the BSE benchmark Sensex was trading 124 points lower at midsession on Thursday with investor community hair-splitting various budget proposals like higher taxes on corporates and individuls and reduction in Securities Transaction Tax.

After a higher start

at 19,322.28, the Sensex fell sharply by 124.38 poins to 19,028.03 at 13:00 hrs as stocks of bank, oil and gas and metal sector declined.

The broad-based Natonal Stock Exchange index Nifty fell by 40.50 points to 5,756.40, after climbing to 5,849.90 at the outset.

Brokers said the budgetary proposals lacked any worthwhile market moving announcement and remained under pressure as some corporates and individual taxes were raised.

They said the tumbling market received little support on lowering of Securities Transaction Tax (STT) on equity futures to 0.01% from 0.17%.

The market even ignored the firming global markets after an overnight rise in the US stocks, they added.


Go to Top

Photo Gallery
School children in Ahmedabad praay as they pay tributes...

School children in Ahmedabad praay as they pay tributes...

School children of Gurgaon pay tributes to the children killed in Pakistan...

School children of Gurgaon pay tributes to the children killed in Pakistan...

Kashmiri Muslim women pray outside the shrine...

Kashmiri Muslim women pray outside the shrine...

School girls take part in a protest against attack at a Peshawar school...

School girls take part in a protest against attack at a Peshawar school...

A Pakistani man comforts a student standing at the bedside of a boy who was injured in a Taliban...

A Pakistani man comforts a student standing at the bedside of a boy who was injured in a Taliban...

Pakistani parents escort their children outside a school attacked by the Taliban in Peshawar...

Pakistani parents escort their children outside a school attacked by the Taliban in Peshawar...

Ambulances carry injured people outside a school attacked by the Taliban in Peshawar, Pakistan...

Ambulances carry injured people outside a school attacked by the Taliban in Peshawar, Pakistan...

Relatives of a student, who was injured during an attack by Taliban gunmen on the Army Public...

Relatives of a student, who was injured during an attack by Taliban gunmen on the Army Public...

A plainclothes security officer escorts students rescued from nearby school during a Taliban...

A plainclothes security officer escorts students rescued from nearby school during a Taliban...

A Pakistani army soldier takes position on a bunker close to a school under attack by Taliban...

A Pakistani army soldier takes position on a bunker close to a school under attack by Taliban...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523