Market slips into red on Jaitley's rural push

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Market slips into red on Jaitley's rural push

Posted on : Thursday 1st of February 2018

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Key Indian equity indices fell from their highs to trade in the red during mid-afternoon trade after finance minister Arun Jaitley presented a budget that focuses heavily on agriculture and rural sectors.

The introduction of 10 per cent tax on long term capital gains above Rs 1 lakh in the budget swayed the markets further into negative territory.

Heavy selling pressure was also observed in consumer durables, metals and healthcare stocks.

At 12.16 pm, the wider Nifty50 of the National Stock Exchange (NSE) fell by 17.60 points or 0.16 per cent to trade at 11,010.10 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex) fell below the 36,000-mark to trade at 35,880.47 points - down 84.55 points or 0.24 per cent from its previous close.

On Wednesday, the benchmark indices had closed in the negative territory on the back of negative global cues and heavy selling pressure in healthcare, consumer durables and capital goods stocks.

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