The reintroduction of long-term capital gains (LTCG) tax in the Budget sent Dalal Street on a selling spree on Friday, as the sensex crashed 840 points (2.3%), its second sharpest post-Budget day fall ever by points, and closed just a tad above 35K. Bond yields rose on fears that the government might not be able to manage the fiscal deficit target, which also affected investor sentiment on the stock market.
The reintroduction of long-term capital gains (LTCG) tax in the Budget sent Dalal Street on a selling spree on Friday, as the sensex crashed 840 points (2.3%), its second sharpest post-Budget day fall ever by points, and closed just a tad above 35K. Bond yields rose on fears that the government might not be able to manage the fiscal deficit target, which also affected investor sentiment on the stock market.
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