Budget 2024 : The share market is facing a decline today due to the LTCG tax hike in the central budget filing.
The National Stock Exchange index Nifty rose 50 points to trade at 24,568.90 from the start of the day as many investors were waiting for the budget presentation to be in their favor for the current financial year. At the same time, Mumbai Stock Exchange Sensex gained 200 points to trade at 80,724 points.
In this case, the central budget session for the financial year 2024-2025 started this morning. In which he announced a change in LTCG tax, the Indian stock market started a series of declines within minutes.
Accordingly, the Mumbai stock market Sensex fell by 1,000 points to trade at 79,400 points. Similarly, the national stock market Nifty50 fell by 400 points to trade at 24,220 points. The 12.5% increase in LTCG long term capital gain tax is seen as the most important reason for the stock markets to face a series of declines.
Also, many investors said that they are selling their shares and withdrawing their investment as the LTCG tax hike was seen in the budget filing. Due to this, the stock market continues to decline today. Also, it is said that the budget presentation for this financial year has disappointed the investors.
