Published 16:06 IST, April 12th 2024
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.
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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
15:50 IST, April 12th 2024