5 Points In The Union Budget To Decide The Course Of Market
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Indian Market Outlook:
Five Important Points to watchout for in the Union Budget 2017-18 today:
- Capital Gain Tax
- Corporate Taxes and individual taxes need to be reduce
- Banking Cash Transaction Tax likely to be introduced
- Increase in agriculture Subsidies
- Increase in service tax & Excise reduction in Crude oil
India’s benchmark index Nifty yesterday fell by 80 points from the day high of 8632 and made low of 8552, and closed at 8561 almost near its day low. Bank nifty also showed weakness throughout the day and fell by 70 points from its previous day close of 19585.
Small cap index saw selling pressure as the index lost 90 points from its previous day close of 6392 to close at 6302. Small Cap Index closed below its 3 day low thereby showing signs of further weakness.
FII’s have sold 532 crore in Cash Segment ahead of Budget on Tuesday after continuous buying of 3 days.
Important results to be announced today are apollo tyre, tata global, eicher motors, cummins india.
Nifty Future is opening at 8609 as per SGX Nifty at 8:50 am IST,almost 25 points above its previous close of 8584
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