Sensex tanks 2.5%, down 839 pts, Nifty ends below 10,800 on Budget woes
Catch all live market action here LATEST NEWS : Benchmark indices tumbled on Friday because the lengthy-term capital gains tax on equities investments dampened sentiment, even as bonds slid for a 2d consecutive session on worries the significant bank could become greater hawkish on inflation . The susceptible sentiment came an afternoon after the authorities unveiled its price range for the 12 months beginning in April that raised spending for rural sectors and healthcare, widening the monetary deficit goal to 3.three% of gross home product from the previous three.0%. The authorities additionally unveiled a 10 percent tax on lengthy-time period capital profits in equity markets . investors worried that higher spending and the government’s flow to elevate minimum help costs for crops could lead to better retail charges at a time when purchaser charge inflation has already hit a 17-month high of 5.21%, properly above the Reserve bank of India’...