Rupee gains, stocks cut losses on GAAR changes
MUMBAI (Reuters) - The rupee strengthened against the dollar, while stocks cut losses after Finance Minister Pranab Mukherjee announced amendments to a series of controversial GAAR provisions on taxation for foreign investors, including deferring any implementation by a year.
The Sensex was down 0.5 percent, cutting losses of nearly 1 percent before the announcement.
The rupee was trading at 53.01 to the dollar, strengthening from 53.20 before the announcement.
(Reporting By Mumbai markets team)
- Tweet this
- Share this
- Digg this
- Bangalore-bound Malaysian plane lands safely after landing gear scare
- Calls to U.S. poison centers involving e-cigarettes jump - CDC
- India passes halfway mark in election with BJP gaining strength
- UPDATE 1-Saudi Arabia announces jump in new cases of deadly MERS virus
- Mercedes, BMW chase ultra rich clients with new high end cars