Sensex Opens Lower On Mauritius Tax Issue

Posted By: Religare
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Indian markets were trading on a lower note during the morning trading session with marginal losses. India will start imposing capital gains tax on investments from Mauritius starting next year.

Sensex Opens Lower On Mauritius Tax Issue
Sensex35,511.58Sensex Quote251.29 [0.71%]

Reports suggest that HDFC Bank wants to accelerate its growth in the credit card segment and capture further market share by aiming to offer 0.4 million credit cards every month, almost double of the number they issue currently.

Other Sensex losers include ITC and Bharti Airtel among others. Tata Motors extended losses on the back of moderating domestic sales.

At 9:40AM BSE SENSEX was at 25629.46, down by 143.07 points or by 0.56 per cent while the NSE Nifty was at 7840.3, down by 47.5 points or by 0.6 per cent.

The BSE MIDCAP was at 11096.81, down by 28.07 points or by 0.25 per cent while the BSE SMLCAP was at 11004.94, down by 37.08 points or by 0.34 per cent.

The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 142.55,+1.35 per cent), Axis Bank Ltd. (Rs. 494.00,+1.26 per cent), Asian Paints Ltd. (Rs. 902.50,+0.43 per cent), Maruti Suzuki India Ltd. (Rs. 3852.00,+0.13 per cent), among others.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 361.00,-2.13 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 2876.00,-1.79 per cent), Tata Motors Ltd. (Rs. 382.30,-1.70 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 192.00,-1.54 per cent), Coal India Ltd. (Rs. 280.90,-1.51 per cent), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total 1466 shares traded, 437 shares advanced, 963 shares declined while 66 were unchanged.

Among the sectoral indices on BSE, BSE Realty index was at 1351.77, down by 12 points or by -.88 per cent led by D B Realty Ltd. (Rs. 47.55,-3.35 per cent), Indiabulls Real Estate Ltd. (Rs. 80.85,-2.24 per cent), Housing Development & Infrastructure Ltd. (Rs. 81.50,-1.93 per cent), Prestige Estates Projects Ltd. (Rs. 173.30,-1.25 per cent), DLF Ltd. (Rs. 126.10,-1.25 per cent).

Most Asian markets were trading lower as investors turned cautious and booked profits. The Nikkei was up 0.5 per cent on the back of weaker yen while China's Shanghai was up 0.3 per cent. Hong Kong's Hang Seng and Singapore's Straits Times were trading with marginal losses.

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