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
- E-tailer Flipkart raises $1 billion in funding
- Citi to hire 100 bankers in Asia, eyes more business from smaller clients
- Israel strikes house of Hamas Gaza leader, digs in for long fight
- Cricket - Moeen probed after sporting 'Save Gaza' wristbands
- With PlayStation network, Sony goes back to the future in search of revival
With PlayStation network, Sony goes back to the future in search of revival Full Article