Sensex, Nifty fall after budget proposes higher taxes
MUMBAI (Reuters) - The Sensex and the Nifty fell on Thursday, erasing earlier gains, after the 2012/13 budget proposed increasing some corporate and individual taxes and after a securities transaction tax was lowered but not eliminated.
The rupee fell against the U.S. dollar, trading at 53.99/54.00 from levels of around 53.70 before the budget.
The Sensex was down 0.4 percent as of 12:39 p.m., after earlier gaining as much as 0.88 percent.
The Nifty fell 0.31 percent.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- Oil falls below $86 as oversupply, global economy worries weigh
- Indiana police charge suspect who may have killed for decades
- Total CEO de Margerie killed in Moscow business jet accident
- California woman gets stuck in chimney trying to sneak into home
- UPDATE 2-Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case
India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. Full Article
Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman. Full Article