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Modi's Decision Costs Investors Rs 4.6 Lakh Crore
By: Tupaki Desk | 3 Feb 2018 6:22 AM GMT
Few Decisions announced by Finance Minister Arun Jaitley during the Union Budget 2018-19 presentation led to the crash of Indian Stock Market.
Imposing Long-Term Capital Gains Tax of 10 percent on Equities resulted in massive selling in the stock market. Even increase of fiscal deficit from 3.2 to 3.5 percent contributed to the major correction.
30-share Sensex plummeted 750 points on Thursday. Decline of 839.91 points (2.34 percent) was witnessed by the end of Friday trading to close at 35,066.75. This is the biggest single day fall since August 24th, 2015 (1,624.51 points). Market capitalization of BSE-listed Companies fell by Rs 4,58,581.38 crore.
Almost all the shares have been affected by the decisions of Modi Government. Will there be any measures from Centre to offer an assurance to the Investors?
Imposing Long-Term Capital Gains Tax of 10 percent on Equities resulted in massive selling in the stock market. Even increase of fiscal deficit from 3.2 to 3.5 percent contributed to the major correction.
30-share Sensex plummeted 750 points on Thursday. Decline of 839.91 points (2.34 percent) was witnessed by the end of Friday trading to close at 35,066.75. This is the biggest single day fall since August 24th, 2015 (1,624.51 points). Market capitalization of BSE-listed Companies fell by Rs 4,58,581.38 crore.
Almost all the shares have been affected by the decisions of Modi Government. Will there be any measures from Centre to offer an assurance to the Investors?
