Finance Minister Says Market slide Not due to LTCG tax
Written by : SMTV24x7 | Tue, Feb 06, 2018, 11:02 AM
New Delhi Feb 6: Union Finance on Monday has clarified that the Sensex crash is not due to the imposition of Long Term capital gains tax but due to global factors.
The Stock markets on Friday and Monday has collapsed and has lost nearly Rs 5 lakh cr rupees of investors wealth.
Jaitley has said that "It is not due to the Budget or the LTCG. Dow Jones has also fallen by over two percent". the Sensex to shed over 800 points and the Nifty50 over 200 points on Friday.
US Stocks on Friday have also fallen was Dow Jones Industrial Average lost 665.75 points, or 2.54 percent, to close at 25,520.96.
Sensex of the BSE on Monday has continued downward and fell by almost 550 points to 34,520 before recovering to some extent. It was trading at 34,737 at 11.15 am.