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Anyone who has ever tracked markets Budget day It is known that the stock market investors do not really care about what the Finance Minister wants to say. Both their interests are very large and very narrow.
Its narrow part is to do it with capital gains and securities transactions taxes. In addition, market players want to know how much tax will be taxed on foreign institutional investors (FIIs).
What it usually affects Market Most on budget day.
This time, there was a lot of expectation that Nirmala Sitarman would reduce the taxes affecting the stock market investors. Special trading sessions were slapped today in anticipation of large concessions in capital markets. This is why both Sensex and Nifty were trading 1.5 percent more when FM started its speech.
But nothing happened. No change in securities transactions, no deduction in capital profit tax, and nothing for FII. In fact, Sitarman made it clear that his income tax for the middle class does not reach the capital profit tax.
Somebody must have imagined that the mega breaks for the middle class – the government says that it will give Rs 1 lakh crore in income tax – the markets should be encouraged.
By the time the FM finished his speech, the markets slipped in red, and the major indices – senses, Nifty, bank Nifty, and Nifty Midcap 100 – all ended all flats or slightly below.
