Indian stock SENSEX falls to 3-week low
Capital gains tax hikes and securities trading continue to weigh on sentiment.
According to the budget submitted to the National Assembly on Tuesday, the government raised the tax on shares held for less than 12 months to 20% and the tax on shares held for 1 year or more from 10% to 12.5%.
Nifty 50 fell 0.5% to fall below 24.300, which was mainly burdened by the banking sector, financial services, metals, and durable consumer goods.
BSE Sensex followed Wall Street's decline on Wednesday in response to sluggish financial results from major companies.
Meanwhile, traders, such as Tech Mahindra, Adani Green, and Nestle, prepared for today's quarterly earnings announcements.
The net profit of Axis Bank fell 15% from the same period last year, leading to a sharp drop of 5.9%.
Other declines include ICICI Bank (-2.0%), Hindalco (-2.0%), and Shriram Finance (-1.9%).
By sector, banks and metals each fell 1%, while oil and gas, electricity, automobiles, and capital goods rose 0.5-1%. Axis Bank, IFCI, Tata Motors, MMTC, IDBI Bank, etc. are showing the most active movements in the NSE.
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乱空 OP : SENSEX and NIFTY have regained their close decline and are currently slightly weak