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Sensex ends below 36000, Nifty marginally lower as LTCG tax proposed

From impact of budget 2018 on the market to stock movements, all that happened in the market today

SI Reporter  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

Views on LTCG by Aashish Somaiyaa, MD & CEO, Motilal Oswal AMC   Equity markets were keeping fingers crossed for imposition of Long Term Capital Gains tax, which has finally come. Having STT and LTCG both is unfair when former was levied expressly in lieu of latter. Happy with the 10% LTCG tax on MFs & the 10% tax on dividends this move will reduce churn and mis-selling.    LTCG implementation is at least well thought out; no disruptive impact. Therefore, over a period of time this tax incidence will be taken in stride and normal life will continue as far as investments in equities is concerned. 10% is modest and grandfathering earlier gains is a positive. It is not a big negative and markets should eventually digest it Market rundown by Jayant Manglik, President, Religare Broking   The much-awaited Union Budget turned out to be a balancing act, pleasing some and disappointing others. The announcement of long term capital gains on equity investments combined with possible slippage in meeting fiscal deficit target dampened the sentiment. Personal income tax too should have been addressed, or at least the slabs indexed to inflation. The focus on Bharat as well as farmers was expected and necessary.   We might see an overhang of this event for next couple of sessions and then focus will return to earnings. Signals are in the favor of consolidation in the index while profit taking may continue on the broader front. We reiterate our bullish yet cautious stance and suggest preferring index majors for trading Top Sectoral loser: Nifty pharma Sectoral Trend Sensex top gainers and losers Market at close Benchmark indices ended marginally lower after the government imposed a long-term capital gains tax. Budget 2018 has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares.   The S&P BSE Sensex ended at 35,906, up 58 points while the broader Nifty50 index settled at 11,016, up 10 points.

Benchmark indices and ended marginally lower after Finance Minister Arun Jaitley proposed a long-term capital gains tax.
 
has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares. However, capital gains made on shares until January 31, 2018, would be grandfathered, the finance minister said. Also, there has been no change in the definition of short-term capital gains tax (STCG). 
 
Signalling, that fiscal prudence has gone off track, Jaitley proposed a target of 3.3% of GDP for 2018-19. The target he had set for 2018-19 last year was 3%.   
 
This year's budget focussed more on rural and agri economy. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more," he added.

First Published: Thu, February 01 2018. 15:31 IST
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Sensex ends below 36000, Nifty marginally lower as LTCG tax proposed

From impact of budget 2018 on the market to stock movements, all that happened in the market today

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Benchmark indices and ended marginally lower after Finance Minister Arun Jaitley proposed a long-term capital gains tax.
 
has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares. However, capital gains made on shares until January 31, 2018, would be grandfathered, the finance minister said. Also, there has been no change in the definition of short-term capital gains tax (STCG). 
 
Signalling, that fiscal prudence has gone off track, Jaitley proposed a target of 3.3% of GDP for 2018-19. The target he had set for 2018-19 last year was 3%.   
 
This year's budget focussed more on rural and agri economy. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more," he added.

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Business Standard
177 22

Sensex ends below 36000, Nifty marginally lower as LTCG tax proposed

From impact of budget 2018 on the market to stock movements, all that happened in the market today

Benchmark indices and ended marginally lower after Finance Minister Arun Jaitley proposed a long-term capital gains tax.
 
has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares. However, capital gains made on shares until January 31, 2018, would be grandfathered, the finance minister said. Also, there has been no change in the definition of short-term capital gains tax (STCG). 
 
Signalling, that fiscal prudence has gone off track, Jaitley proposed a target of 3.3% of GDP for 2018-19. The target he had set for 2018-19 last year was 3%.   
 
This year's budget focussed more on rural and agri economy. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more," he added.

image
Business Standard
177 22