Dear PC: It's all about transactions, stupid!
Markets thumb down Transaction Tax
Mumbai: The 30-share BSE Sensex that had briefly crossed the 5,000-mark, lost 112 points or 2.26 per cent to end the day at 4843.84. The broader 50-share S&P CNX Nifty of the NSE closed at 1518.15 or 3.11 per cent lower than its previous close of 1566.80.

Market Gainers
Mahindra & Mahindra, Punjab Tractors, Electrosteel Castings, Ucal Fuel, Chennai Petroleum, Alstom Projects, Ucal Fuel, Chennai Petroleum

Market Losers
ONGC, Infosys, Tata Steel, Reliance, BPCL, HPCL, Indian Oil, ONGC

Market Counters
BSE 30
All figures are in Rupees
Gains (+) / Loss (-)
ACC 238.05 -3.50
Bajaj Auto 909.85 +3.85
Bharti Televentures 148.55 +3.30
BHEL 522.20 -14.15
Cipla 226.90 -1.85
Dr. Reddys Laboratories 745.60 -28.25
Grasim Industries 1,022.20 -28.10
Gujarat Ambuja 274.15 -6.60
HDFC 554.20 +3.70
HDFC Bank 364.95 -4.75
Hero Honda Motors 491.85 -27.45
Hindalco Industries Limited 1,097.90 -19.50
Hindustan Petroleum Corp 307.25 -17.65
HLL 124.20 -4.60
ICICI Bank 238.10 -7.60
Infosys Technologies 1,351.45 -40.60
ITC 977.20 +9.05
Larsen & Toubro Limited 710.15 -17.00
Maruti Udyog 402.60 -17.80
MTNL 129.60 -6.35
ONGC 648.00 -51.20
Ranbaxy Labs 963.05 -5.05
Reliance Energy 558.45 -7.70
Reliance Industries 432.25 -6.10
Satyam Computer Services 305.70 0.00
State Bank Of India 418.30 -18.25
Tata Motors 392.90 +0.20
Tata Power 251.10 -4.25
TISCO 296.35 -19.85
Wipro 501.00 -14.45
Zee Telefilms 124.40 -3.00

Others
M&M up 5.6 per cent at Rs 501.15
Bharti Televentures up at Rs 148.55 from Rs 145.25
ITI up 20 per cent at Rs 15.57
Great Eastern Shipping up by Rs 1.7 to Rs 138.3
HPCL down 5.4 per cent at Rs 307.25
Chennai Petroleum up 16 per cent at Rs 126.05
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Transaction tax at 0.15 per cent
Mumbai: The Finance Minister, P. Chidambaram, abolished the tax on long-term capital gains from securities transactions. Instead, a transaction tax of 0.15 per cent will be levied on securities' transaction on stock exchanges. Short-term capital gains tax on securities has been reduced to a flat rate of 10 per cent. Earlier, this was being taxed at 30 per cent. The transaction tax will be levied on the buyer, clarified the Minister.
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