Equity markets dip over amended Mauritius tax treaty

Mumbai, May 11 (IANS) Key Indian indices plunged on Wednesday as an amended tax treaty between India and Mauritius spooked investors amid fears of a massive outflow of foreign capital from the equity markets.

Consequently, the key indices of the Indian equity markets provisionally closed the day’s trade in the red.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 38.95 points, or 0.49 percent, at 7,848.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,548.97 points, provisionally closed at 25,597.02 points (at 3.30 p.m.) — down 175.51 points or 0.68 percent from the previous close at 25,772.53 points.

The Sensex touched a high of 25,762.49 points and a low of 25,409.24 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bears — with 1,454 declines and 1,114 advances.



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