Market Cautious Ahead Of Quarter Earnings

Jan 09, 2017 | 06:05 PM IST

Market Walk 9th January, 2016:

Cautious market ended low after ups and downs. Sensex lost 32.68 points to 26726.55 Nifty lost 7.75 points to 8236.05 HCL Tech gained 2.55% to 835.2

Among the top gainers were Idea Cellular by 2.06% to 74.4, Eicher Motors by 1.22% to 22995.0, TCS by 1.17% to 2308.0, IndusInd Bank by 1.16% to 1157.3.

Among the top losers were Dr Reddy lost 3.14% to 3060.10. ONGC by 2.15% to 198.2, Coal India by 1.99% to 300.10, Asian Paints by 1.86% to 912.25, Hindalco by 1.77% to 157.9.

The government may change the definition of “long-term,” raising the time limit for capital gains tax relief to a minimum of three years from one year at present. There is, however, no plan to introduce a long-term capital gains tax on stock trading. A change in the definition of “long-term”, if announced in the budget for 2017-18, could likely prompt millions of individuals who trade in stocks to shuffle their savings portfolio. Under current rules, gains made on a listed company stock are tax free if the investor exits after a year. The changed definition, however, would imply that investors both retail and institutional will have to pay 15 percent tax on the premium or gains made if the stock is sold within three years.

Stocks to Watch: DHFL is on up side while Coal India is on down side.

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