BB&T says it has 'substantially recovered' from online outage
Oil slips as U.S. output offsets OPEC curbs
Monday night blues. German fan fury triggers protests at Eintracht Frankfurt
Alabama police officer shot, suspect barricaded in home
Budget 2018: Markets hold despite long-term capital gain tax tabled
03 February 2018, 01:47 | Kenneth Drake
Investors turned cautious following negative global cues and reintroduction of LTCG tax in Budget
As per PTI, a sentiment also took a hit after the fiscal deficit target for 2017-18 was raised to 3.5% of GDP as against 3.2% earlier.
Interestingly, FPIs remained net buyers of domestic equities worth '950 crore after pumping in Rs 1000 crore on the Budget day.
The index had retreated from its lifetime high by falling 249.52 points in the previous session. A run-up in yields on U.S. treasuries has lowered the attraction of equities and this led to weakness in numerous overseas indices. Sensex shed 880 points and Nifty 256.30 points to reach 35,066.75 and 10,760.60 respectively.
"In our opinion, global market volatility led by rising bond yields, profit booking (markets had notched one of the best monthly gains before Budget) and concerns on deteriorating macro-economic condition were the probable reasons for the market fall", said Sandeep Chordia, executive vice-president, strategy at Kotak Securities. The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent.
Investors will have to pay 10 per cent tax on distributed income from equity-oriented mutual funds, as per the Budget proposals announced yesterday.
The bank stocks were down for the count the most with both Nifty Private Bank and Nifty Public Bank sub-indices trailing more than 2 percent each.
Top gainers on Thursday included M&M, Eicher Motors, Bajaj Auto, Bajaj Finance, L&T, Asian Paints and IndusInd Bank while Sun Pharma, ONGC, Dr Reddy's Labs, SBI, ICICI Bank, Aurobindo Pharma and Lupin were among the losers.
All the sectoral indices on BSE ended in the red led by realty and infrastructure.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 per cent and away from a record high. The mid-cap and small-cap shares saw their worst selling in over a year as the S&P BSE MidCap Index slumped 4 percent and the S&P BSE SmallCap Index tumbled 4.6 percent.
Punxsutawney Phil: Six more weeks of winter ahead
Oddly, if the weather is cloudy and he doesn't see his shadow, we can expect warmer temperatures and an early spring . A rare misstep in 2013, when Woody incorrectly forecast an early spring , prompted an apology from the MI mammal.
Flu cases in Michigan highest in recent years
Those who have not yet received a flu shot this season are encouraged to do so, since flu activity can last as late as May. For schools, clean and disinfect frequently-touched surfaces such as desks, door handles, keyboards, etc.
Facebook Pushes Local News To Combat Low-Quality Content
In 2017, about two-thirds of Americans got at least some of their news on social media, according to the Pew Research Center. Its total user growth was up 14 percent over the same period previous year , to 2.13 billion users, about what was expected.