Sensex zooms, Nifty hits 8600; no tax changes for capital market

Moneycontrol Bureau

The market seems to be dodging the bullet of paying more taxation for capital markets as Finance Minister Arun Jaitley made no mention of it in his Budget speech. The Sensex is up 182.98 points or 0.6 percent at 27838.94, and the Nifty up 42.55 points or 0.5 percent at 8603.85. About 1399 shares have advanced, 1100 shares declined, and 199 shares are unchanged.

GAIL, ITC, ICICI Bank, SBI and Axis Bank are top gainers while TCS, Dr Reddy's Labs, Lupin, Infosys and Sun Pharma are losers in the Sensex.

The government will infuse Rs 10,000 crore in public sector banks in the next fiscal and more will be provided if required, Finance Minister Arun Jaitley said today.

"As per the Indradhanush plan, the public sector banks will be provided with Rs 10,000 crore in the next fiscal. Additional allocation would be made if required," he said while presenting Budget 2017-18.

Posted by Nasrin Sultana

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