India’s equity markets seem to have reacted negatively to the increase of securities transaction tax (STT) on futures and trading segment from 0.02% to 0.05%, with the BSE Sensex and Nifty 50 indices down by 1.8%.
After both the indices took a slide of more than 2.5%, the markets seem to be recovering just a little. At 12.35 pm the Sensex was trading at 80,980, down 1.56%, and Nifty 50 at 24,880, down 1.8%.
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