MARKETS
MUTUAL FUNDS
Mutual funds — Odds stacked against debt funds
BY OFFERING significant concessions on capital gains tax for securities traded on the stock exchanges, Budget 2004 appears to have made direct investing an attractive option relative to investments routed through mutual ...
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A `neutral-to-negative' exercise: MFs
THE Union Budget will effectively discourage short-term punting in mutual funds, suggest asset management companies and distributors alike. Most of them discount it as "neutral-to-negative", an exercise that will have little positive impact on ...
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TECHNICAL ANALYSIS
Bears prevail
THE sentiment reading of the tradable counters turned bearish. Bull domination on Friday is likely to neutralise the sentiment reading. Otherwise, the prevailing bearish sentiment is likely to continue with a slight change in its value. More
STOCK MARKETS
Thumbs down by markets
STOCK and bond prices crashed when frantic investors started a massive sell-off on realising what a blow the Finance Minister had dealt them in a "small 0.15 per cent transaction tax on every trade on the stock exchanges" as he put it. Stock ...
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`Tax on transactions to affect market depth'
STOCK market players have expressed concern over the introduction of tax on every transaction as they feel that this tax could lead to reduced volume on the bourses. Brokers also feel that this tax might lead to lower depth in the market, which ...
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0.15 per cent tax to be levied on securities transactions
THE Finance Minister, Mr P. Chidambaram, abolished the tax on long-term capital gains from securities transactions. Instead, a transaction tax of 0.15 per cent will be levied on securities' transaction on stock exchanges. Short-term capital ...
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Transaction tax a dampener: FISE
THE Federation of Indian Stock Exchanges (FISE) has termed the levy of 0.15 per cent tax on transaction of securities as a dampener not only for the exchanges but also for the investors and brokers. "It is definitely a worry for the ...
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Removal of excise on tractors boosts M&M
THE stock of Mahindra & Mahindra (M&M) today shifted gears to race to a 52-week high after the Budget proposed the abolition of the current 16 per cent excise on tractors. According to analysts, though it will not have any impact on the ...
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`More clarity on turnover tax needed'
THERE has to be more clarity on the applicability of turnover tax on fixed income transactions, Mr Milind Barve, Managing Director of HDFC Mutual Fund, has said. The Finance Minister, Mr P. Chidambaram, has identified the proposals on ...
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Turnover tax seen as a blip
THE mood was one of cautious optimism kind. Optimistic because it is being termed as a Budget with a face and cautious because the `turnover tax' proposal is being looked on as a blip. "This is clearly a signal that reforms will continue. All ...
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May impact trading volume: market players
THE Finance Minister could have discussed the proposal to introduce `transaction tax' on the securities purchased in the capital market with the capital market stakeholders for smoother acceptance of the plan, according to a capital market ...
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DERIVATIVES MARKETS
Outlook negative for Tata Steel, Nifty
THE following strategies are based on Thursday's trading in the spot and the derivatives segments on the NSE: Tata Steel: The stock closed at Rs 296 in the spot market. The outlook appears negative. The downside price target is Rs 285. ...
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COMMENTARY
Budget turns damper; volumes soar
AFTER a volatile movement in the first half of the trading session, the sentiment turned extremely bearish during the latter half. After opening at 4,972.06, the BSE Sensex ruled relatively firm still the start of the Budget Speech. It touched ...
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