Updated April 12th, 2024 at 16:06 IST

Sensex drops 790 points, Nifty ends below 22,550 as India, Mauritius amend DTAA

The benchmark BSE Sensex fell 793.25 points, or 1.06%, to 74,244.9, while the broader NSE Nifty 50 index lost 236.8 points, or 1.04%, to 22,517.

Reported by: Business Desk
Stock market crash | Image:Republic World
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Stock market news: Indian benchmarks closed the trading week on a negative note amid slim hopes of an early rate cut by the Federal Reserve.

The benchmark BSE Sensex fell 793.25 points, or 1.06 per cent, to 74,244.9, while the broader NSE Nifty 50 index lost 236.8 points, or 1.04 per cent, to 22,517.

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The fall in the stock market can also be attributed to the amendments to the Double Taxation Avoidance Agreement (DTAA) between India and Mauritius. The amended treaty includes a principal purpose test (PPT) to decide whether a foreign investor is eligible to claim treaty benefits. Tax experts said a new article has been added to the protocol "Article 27B Entitlement to Benefits". The amended protocol was signed on March 7 and made public now.

Apart from that, investors were also on the back foot due to the rising tensions in West Asia and the possibility of a Red Sea crisis.

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Sensex top gainers

  • Tata Motors: 0.67 per cent
  • TCS: 0.45 per cent
  • NestleInd: 0.37 per cent

Sensex top losers

  • Sun Pharma: -4.01 per cent
  • Maruti Suzuki: -3.17 per cent
  • PowerGridCorp: -2.57 per cent
  • Titan: -2.40 per cent
  • JSW Steel: -2.22 per cent
  • L&T: -2.04 per cent

Nifty top gainers

  • Eicher Motors: 0.92 per cent
  • Tata Motors: 0.79 per cent
  • Divis Labs: 0.75 per cent
  • Bajaj Auto: 0.53 per cent
  • Nestle Ind: 0.52 per cent
  • NTPC: 0.37 per cent

Nifty top losers

  • Sun Pharma: -3.99 per cent
  • Maruti: -2.14 per cent
  • Titan: -1.95 per cent
  • Cipla: -1.80 per cent
  • PowerGridCorp: -1.68
  • JSW Steel: -1.57 per cent
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Published April 12th, 2024 at 15:50 IST