MOSt Market Round Up

Market Analysis

23 Jul 2024 | 5 Min Read

On budget day, Sensex and Nifty closed slightly lower amid volatile trading.

Finance minister's proposal to hike securities transaction tax initially led to significant market drops.

Markets rebounded sharply after the announcement of rural development allocation and increased capital spending.

Sensex recovered most losses to close 0.1% down at 80,429, while Nifty dipped 0.1% to 24,479.

The government plans to levy a 20% tax on financial assets held for less than 12 months.

The finance minister also hiked the securities transaction tax on futures and options transactions.