Amid concerns over the correction in the stock market due to the increase in capital gains tax on shares, Finance Secretary TV Somanathan on Thursday asserted that the fall in the stock market is not a cause of concern for the government.
As per the market analysts, the declining global sentiment after the disappointment that arose after the earnings disclosure of Alphabet and Tesl have greatly impacted the market globally.
As the selling pressure continues for the last two consecutive days following the Union Budget announcement, the Indian stock market is expected to follow the global trend as the S&P 500 and Nasdaq hit multi-week lows.
The Indian benchmark indices experienced significant volatility as Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 under the Modi 3.0 government on Tuesday.
In what may come as somewhat dampener for stock market investors, Finance Minister Nirmala Sitharaman as part of her Budget speech on Tuesday announced an increase in both long term and short term capital gains.
The Sensex rose by 173.80 points, opening at 80,675.88, while the Nifty climbed 51.95 points, starting the day at 24,561.20. Out of the Nifty companies, 40 showed advances, while 9 registered declines.
Minister of State for Finance Pankaj Chaudhary on Monday informed the Parliament that market regulator SEBI has received representations on the sharp stock market movements on June 4, the day when the Lok Sabha election results were declared, but no specific information on any "unfair tradi
Indian benchmark indices experienced high volatility during the trading session on Monday as the economic survey presented a conservative economic growth forecast for the financial year 2024-25.
Indian markets started the week with a decline following global market weakness after U.S. President Joe Biden opted out of the presidential race. Indian markets are also facing selling pressure ahead of the Union Budget announcement by the government.
As the highly-anticipated Union Budget week is going to commence today, investors' sentiments in the equity market will be driven by the announcements made by Finance Minister Nirmala Sitharaman.