Press Esc to close
Monday 23 January 2017
News updated at 1:43 AM IST
Weather
Max: 28.9°C
Min : 15.3°C
In Bengaluru
Sunny day

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
Olympic finalist Gymnast Dipa Karmakar being felicitated with Assames japi,Khoria and gomacha...

Olympic finalist Gymnast Dipa Karmakar being felicitated with Assames japi,Khoria and gomacha...

A boat man carries Hindu devotees in the river Yamuna early in the morning during magh Mela in...

A boat man carries Hindu devotees in the river Yamuna early in the morning during magh Mela in...

Austria's Michael Matt speeds down the course during an alpine ski, men's World Cup slalom...

Austria's Michael Matt speeds down the course during an alpine ski, men's World Cup slalom...

Punjab tableaux artists pose a photo during a press preview in New Delhi on Sunday...

Punjab tableaux artists pose a photo during a press preview in New Delhi on Sunday...

AIADMK leader SP Velumani inaugurates Cattle race after the urgent law was passed for...

AIADMK leader SP Velumani inaugurates Cattle race after the urgent law was passed for...

Bollywood actors Madhuri Dixit and Manish Paul atteded the Umang Mumbai Police Show 2017 in...

Bollywood actors Madhuri Dixit and Manish Paul atteded the Umang Mumbai Police Show 2017 in...

Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

Youngstres and Students during the protest to Lift ban on jallikattu and impose ban on PETA...

India Captain Virat Kohli celebrate after his 50 runs during 3rd ODI against England at Eden...

India Captain Virat Kohli celebrate after his 50 runs during 3rd ODI against England at Eden...

Rescue and relief work in progress at the site where Jagdalpur-Bhubaneswar Express train derailed...

Rescue and relief work in progress at the site where Jagdalpur-Bhubaneswar Express train derailed...

Samajwadi Party Vice president Kiranmoy Nanda, SP state president Naresh Utam and Congress state...

Samajwadi Party Vice president Kiranmoy Nanda, SP state president Naresh Utam and Congress state...

Like us on Facebook

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