Benchmark indices settled the day lower as capital gains tax woes spooked the markets after PM Narendra Modi on Saturday said that people in financial markets must make a "fair contribution" to nation building, comments that were seen as setting up the prospect of higher taxes for investors. However, Arun Jaitley clarified on Sunday that the government did not plan to impose long-term capital gains tax, though that was not enough to prevent selling in today’s session.
The NSE Nifty ended at a seven-month low weighed by metal, realty, pharma, banking and auto stocks. The ...
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