SEARCH

Sensex drops 83 points

print   ·   T  T  

MUMBAI: The stock market on Monday moved lower with its benchmark Sensex settling 83 points down on concerns that foreign institutional investors might pare their holdings following a new government circular differentiating between trading and investment stocks for taxation purpose.

In volatile trading marked with an intra-day gain of over 100 points, the Bombay Stock Exchange 30-share index settled at 14080.14, a fall of 82.57 points against its previous close of 14162.71.

The index had hit an intra-day high of 14283.71, mirroring a firm trend in Asia markets. The broader Nifty index of the National Stock Exchange (NSE) also fell from the day’s high of 4208.15 to settle at 4147.10, a loss of 24.35 points from the last close of 4171.45. The circular issued by the Central Board of Direct Taxes (CBDT), after market-close on Friday, caused a flutter. — PTI


O
P
E
N

close

Recent Article in BUSINESS

Voltech group to invest Rs.90 crore in two more joint ventures

City-based Voltech group, service provider in testing and commissioning of electrical plants, has floated two more joint ventures one in... »