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



Recent Article in BUSINESS

Air Pegasus set to take to the skies

New airline Air Pegasus is set to commence domestic operations in two weeks, joining other new entrants such as AirAsia India and Vistara... »