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Equity benchmark indices closed in negative zone on Wednesday beating the 2-day consecutive surge with Sensex slipping below 33,000-mark and Nifty closing near 10,100 levels, amid weak global cues.
Trading session was highly volatile today ahead of Future & Option (F&O) expiry and last day of trading in the financial year 2017-2018. The March 2018 F&O contracts expired today, 28 March 2018.
The stock market remains closed on Thursday, 29 March 2018 for Mahavir Jayanti and also on Friday, 30 March 2018 on account of Good Friday.
The BSE Sensex slipped 205.71 points to close at 32,968.68 while NSE Nifty lost 62.85 points to settle at 10,121.3 on Wednesday. A fall in heavyweight shares such as Reliance Industries, Infosys, ICICI Bank, ITC, Bharti Airtel, SBI and Tata Steel weighed on the key equity indices.
Shares of IT major Wipro Limited advanced more than 4 percent to Rs 283.5 emerging as the lead gainers on the BSE Sensex. The other notable gainers are Coal India Ltd, Yes Bank, Hero MotoCorp, IndusInd Bank and Kotak Mahindra Bank, which rose up to 2.31%.
Meantime, the LTCG tax (long-term capital gains tax) on equities proposed in the Budget last month will effect on profits made from sale of shares on or after 1 April 2018. Long-term capital gains beyond Rs 1.00 lakh from sale of shares made on or after 1 April 2018 will be taxed at 10 percent.