SENSEX TODAY: Investor Confuse Before Budget, Sometimes Green or Sometimes Red Marks Markets

The general budget is to be presented shortly and the stock market business has started with a mixed approach.  The BSE Sensex opened 29.69...

The general budget is to be presented shortly and the stock market business has started with a mixed approach. The BSE Sensex opened 29.69 points up 40,753.18. However, the market reached the red mark on opening and the Sensex lost 200 points and reached the red mark.

Mumbai is due to be presented shortly and the business of the stock market has started with a mixed approach. The BSE Sensex opened 29.69 points up 40,753.18. However, the market reached the red mark on opening and the Sensex lost 200 points and reached the red mark. At the same time, NSE Nifty opened up 23.10 points at 11,962.10. Shares of Power Grid and Tech Mahindra were down by 3% in early trade.

Expectations of the market from the budget are today 1 February and the general budget is to be presented, as well as Saturday when the market is usually closed. This is the second time the stock market is open despite the budget being Saturday. The stock market has high expectations from this budget. A lot of change is expected regarding the Security Transactions Tax.

Read: What the trends say for the week before the budget

Many experts are hopeful that the government may end the tax on LTCG or change the definition of the long term. Apart from this, a change in dividend distribution tax (DDT) is also expected, which will benefit the companies.

Read: What are the 10 expectations of taxpayers from the budget this time?
It is also expected to cut personal income tax and change the tax slab, which may increase in the market. Apart from this, the
the market is also eyeing the FDI related announcements to promote disinvestment and foreign investment.
  • What did mutual funds get in the last 6 budgets, lost?
  • What did mutual funds get in the last 6 budgets, lost?
So far 6 budgets have been presented in the Modi government. Let us know what mutual funds got and lost along with other changes.
LTCG on earning over 1 lakh
In the 2018-19 budget, the Finance Minister announced an LTCG (Long Term Capital Gains) tax of 10% on earnings of more than Rs 1 lakh in a financial year from equity schemes in the budget. The profits made till 31 January 2018 were kept tax free.
10% DDT In the 2018-19 budget, a 10% dividend distribution tax, or DDT, was imposed on equity schemes.
Unit transfer exempt from tax on scheme merger
When two mutual fund schemes are merged, the investor had to pay tax on the old scheme. This rule was scrapped in the budget presented for the financial year 2016-17. In the merger, the Consolidation Plan of Transfer of Units or Mutual Fund Scheme was exempted from capital gains tax.
Surcharge increased on DDT
In the budget presented for 2015-16, the Finance Minister proposed to increase the surcharge on dividend distribution of mutual funds from 10% to 12%. However, this did not affect equity schemes as their dividend was not taxed. In case of debt oriented mutual funds, DDT increased from 28.33% to 28.84% (25% + 12% surcharge + 3% cess).

Change in debt mutual fund

In the budget presented for the financial year 2014-15, the Finance Minister increased the holding period for non-equity schemes from 12 months to 36 months so that they fall under the category of long-term capital gains. Also, without indexation LTCG tax was increased from 10% to 20%. In addition, DDT was proposed to be calculated on gross income (by adding distribution tax).

In early trading, which stocks were seen to be down by 38.18 points at 40,685.31 and the Nifty fell by 20.85 points to 11,941.25 at 9.43 in the morning. Hindustan Unilever, UltraTech Cement, Asian Paints, Maruti and Reliance were among the stocks that saw a spurt in the Sensex in early trade. On the other hand, Tech Mahindra, PowerGrid and NTPC are among the leading losers. Among the Nifty stocks that have seen the most buying, Gail, HUL, BPCL, Bajaj Finserv, UltraTech Cement are the major ones. On the other hand, Tech Mahindra, PowerGrid, NTPC, Coal India and Tata Steel are seeing the biggest decline.

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