![]() ![]() “The Bank Nifty bears took over the control on the last day of the week and the index ended on a negative note. Forty-one of the Nifty 50 constituents fell on Friday. While, Bank Nifty lowered by 221 points or 0.56% to 39,395. Although all major sectors traded in the red, selling in the IT sector was limited despite warnings of muted growth," said Vinod Nair, Head of Research at Geojit Financial Services. The volatility was fuelled by weak European markets, which was driven by banking stocks as CDS spread increased. ![]() The asset management industry was hit hard by tax changes and the elimination of the indexation benefit of debt mutual funds. “Cues from both the global and domestic markets were subdued. The Finance Bill 2023 amendment tabled and passed by Lok Sabha on Wednesday informs that STT applicable on sale of options has been raised by 23.52 per cent The Future & Option ( F&O) trading is going to cost more from 1st April 2023 as Finance Bill 2023 amendment has provision to raise Security Transaction Tax (STT) on sale of options and futures. On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.Īccording to the amended Finance Bill, debt Mutual Funds (MFs) will now attract short-term capital gains if they invest less than 35 percent of their assets in equities. Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro and Mahindra & Mahindra, Axis Bank and Titan. ![]()
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