 "markets")
The proposal to rejig the shareholding norms hit the markets hard again on Monday, with the S&P BSE Sensex and the Nifty50 sliding nearly 2 per cent each. The pain in the mid-and small-caps was more severe with both the indices on the BSE falling 2 per cent and 2.5 per cent, respectively.
Besides the rejig of shareholding norms, the government's proposal to hike income tax surcharge on high net-worth individuals (HNIs) dented the market sentiment on concerns that foreign portfolio investors (FPI) will also face the increased taxes in India, said experts. The government's move to tax share buybacks and
