04 March,2010 Market Closing

04 March,2010 Market Closing :
Today market opened in negative and traded negative for the whole session.Market gave some recovery after the clarification from Revenue Department.Nifty closed at 5077.60 losing 10.50 points while Sensex closed at 16955.41 shedding 44.60 points.The day's low for Nifty was 5049.
Today The food price index rose 17.87% in the 12 months to February 20, while the fuel price index was up 9.59%.

The rise in the food price index was higher than an annual rise of 17.58% in the previous week.
India's primary articles price index was up 15% year-on-year as on February 20.The Revenue Department says service tax is liable on the gross value of service, and not on the sale price with respect to housing, reports CNBC-TV18's Siddharth Zarabi. This means that tax will be levied only on 33% of the amount of the invoice that a consumer shows as having acquired their house for, since developers are allowed about 67% abatement on the tax to be levied.
At 33% and a service tax rate of 10.33%, finance ministry officials say that the actual impact on the billed amount would be 3.3%. They say that this is only an extension of the service tax that had originally been imposed on the housing sector.
Service tax will be levied on the balance amount in the case the structure is yet to be completed. No tax is applicable on outright purchase. The clarification in the Budget was aimed to end avoidance. The move was aimed at developers with restructured contracts.
BSE Realty was the top gainer among BSE Indices.It rose 2.59%.Other gainer was Consumer Durable Index(1.88%) and Metal(1.51%).BSE IT Index closed down by 1.04% followed by BSE Oil&Gas with 0.74%.
Among Nifty50 stocks, Sail gained the most by 4.59% to close at 237 while Sesagoa and LICHSGFIN were the toppers among Junior Nifty rising 7.61% and 5.38% respectively.
Overall market breadth was positive.756 stocks gained where 521 stocks declined today on NSE.

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