Equity markets dip over amended Mauritius tax treaty

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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.

–IANS

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