30th August 2010 Closing Market Updates 15:31
Volatile market ended in positive.Nifty made a day low of 5390.35 in the last session but the introduction of Direct Tax Code Bill in Parliament, market recovered and Nifty ended at 5417.25, gaining 8.55 points and Sensex ended at 18030.07 with 31.66 points in positive.
Among BSE Sectoral Indices, Metal Index shone the most by 1.53% and IT Index was the top loser by 0.83%.
In Nifty50 stocks, Powergrid gained the most by 4.02% to end at 108.55 whereas Suzlon became the top loser by 2.10% and ended at 46.70
Prakash Steel was the turnover topper by value and the traded quantity also.
Overall market breadth was negative as 791 stocks declined and 555 stocks gained today on NSE.
Among BSE Sectoral Indices, Metal Index shone the most by 1.53% and IT Index was the top loser by 0.83%.
In Nifty50 stocks, Powergrid gained the most by 4.02% to end at 108.55 whereas Suzlon became the top loser by 2.10% and ended at 46.70
Prakash Steel was the turnover topper by value and the traded quantity also.
Overall market breadth was negative as 791 stocks declined and 555 stocks gained today on NSE.
Direct Tax Code Bill :
The Direct Tax Code (DTC) Bill has been tabled in the Parliament today. According to the new DTC Bill, first returns should be filed after 31 March, 2013 reports CNBC-TV18 quoting sources. It will be effective from April 1, 2012.
The the new DTC Bill will have dividend distribution tax of 5% for both equity mutual funds (MFs) and unit linked insurance policies (ULIPs).
Sources say that special economic zone (SEZs) will be allowed profit linked tax deduction under DTC. Also SEZs notified as on March 31,2012 will get tax break and that started by March 2014 will get also get tax subsidy.
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