![Market stages a smart recovery post Budget crash; Sensex swings 1,500 pts](https://images.assettype.com/fortuneindia%2F2024-04%2F3ba1917d-0412-4384-a09c-63d58ddf839c%2FBSE_0104_copy.jpg?w=300&q=95)
Market stages a smart recovery post Budget crash; Sensex swings 1,500 pts
The BSE Sensex settled 73 points lower at 80,429 on the Budget day, and the Nifty50 ended at 24,479, down 30 points.
The BSE Sensex settled 73 points lower at 80,429 on the Budget day, and the Nifty50 ended at 24,479, down 30 points.
The FM has proposed to increase short term capital gains tax to 20% from current level of 15%, while long term capital gains tax raised to 12.25% from 10% currently.
The top gainers on the BSE Sensex pack were Ultratech Cement, M&M, Bajaj Finserv, L&T, and Bajaj Finance.
Bucking the trend, the BSE midcap and smallcap indices ended higher, rising 1.2%, and 0.8%, respectively.
Sensex journey from 70,000 to 80,000 levels has been significantly fast, covering 10,000 points in less than seven months, precisely 138 trading sessions, which is the fastest ever.
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.
Market experts expect India VIX, also known as the fear index, to further come down to 11-13 level in the coming days.
Cash segment or delivery of shares is just 0.4% of the overall transactions. It is in 99.6% of trades under F&O where actual profit and loss on June 3 and 4 would reveal the real picture.
In a similar trend, the Nifty50 climbed 409 points, or 1.8%, to 23,230 mark after the RBI kept key repo rates unchanged for the eighth time in a row at 6.5%.
Equity benchmark the BSE Sensex fell 6.8% as of 12:15 pm while the Nifty 50 Index was down as much as 7%.