Investors poorer by Rs 2.7 lakh crore in one day
The Nifty closed at 10,498, down 168 points.
New Delhi: Investors became po-orer by Rs 2.7 lakh crore on Tuesday as stock markets extended los-ses for the sixth successive session, taking their cumulative losses since the anno-uncement of Union Budget on February 1 to Rs 10 lakh crore.
The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 per cent in opening trade on Tuesday but recovered some of the lost ground and finally ended at 34,195.94, down 561.22 points or 1.61 per cent. The Nifty closed at 10,498, down 168 points.
The government has dismissed any link between the bloodbath in the Indian strock markets and the Budget, claiming that the development is linked to sell-off in world stocks. Howe-ver, investors are said to be unhappy over the Budget proposal to levy 10 per cent long-term capital gains tax on equities.