Nifty records longest winning streak of 14 sessions; breaks 2007’s 11-day feat
On Tuesday, the Nifty50 index managed to extend its winning streak, albeit only by a whisker, settling the session just one point higher at 25,280.
On Tuesday, the Nifty50 index managed to extend its winning streak, albeit only by a whisker, settling the session just one point higher at 25,280.
The unwinding of Yen carry trades, U.S. recession fear, and geopolitical tensions in the Middle-East have triggered sell-off in global equities.
The sentiment was dented by weak U.S. manufacturing PMI data, which triggered sell-off in the global equity market.
Infosys shares dropped 1.3%, while other IT heavyweights such as TCS, Tech Mahindra, HCL Tech, and Wipro fell in the range of 1-2%.
The IT major has claimed that it “paid all its GST dues and is fully in compliance with the central and state regulations on this matter”.
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.
Between 2014 and 2023, Sensex closed higher seven times on the Budget day, while it settled in negative terrain on three occasions.
Bucking the trend, the BSE midcap and smallcap indices ended higher, rising 1.2%, and 0.8%, respectively.