The Impressive TimesMarkets closed flat after a significant drop triggered by Finance Minister Nirmala Sitharaman’s proposal to increase capital gains tax and securities transaction tax in the Union Budget 2024. The benchmark Sensex plummeted by over 900 points, falling below 79,515.64, while the Nifty also dropped below 24,300.
The markets later recovered, with the Sensex closing at 80,429.04, down 0.09% or 73.04 points, and the Nifty ending at 24,470.40, down 0.16% or 38.85 points.
On July 23, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 for the new NDA-led coalition government. The budget highlighted nine key priorities, including enhancing productivity and resilience in agriculture, advancing employment and skilling, promoting inclusive human resource development and social justice, strengthening manufacturing and services, improving urban development, ensuring energy security, developing infrastructure, fostering innovation and research, and implementing next-generation reforms.
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