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Markets:
Breathing easy
Mumbai: The
BSE Sensex rose by 35 points to close at 4,993.76 points,
just seven points off the 5,000-mark. The S&P CNX
Nifty ended the day at 1,581.40, up 15 points from its
previous close of 1,566.10 points.
Market Gainers
Tata
Power, Tata Steel, HDFC, Bharat Earth Movers, Crompton
Greaves, Engineers India, Lakshmi Machine Works, Kirloskar
Brothers, Wipro, Satyam, Polaris Software, Hexaware Technologies,
Mascon Global, Britannia Industries, Birla Global Finance
Market Losers
Grasim,
ABB, Infosys
Market Counters
BSE 30
Figures
in Rupees
Gain (+) / Loss (-)
|
ACC
|
231.85
|
-0.85
|
|
Bajaj
Auto
|
838.90
|
+6.80
|
|
Bharti
Televentures
|
157.15
|
+1.85
|
|
BHEL
|
543.90
|
+2.05
|
|
Cipla
|
240.50
|
-1.00
|
|
Dr.
Reddys Laboratories
|
770.25
|
+2.75
|
|
Grasim
Industries
|
959.00
|
-13.40
|
|
Gujarat
Ambuja
|
271.60
|
-2.25
|
|
HDFC
|
566.70
|
+18.65
|
|
HDFC
Bank
|
369.15
|
-1.25
|
|
Hero
Honda Motors
|
441.00
|
+5.00
|
|
Hindalco
Industries Limited
|
1,055.55
|
-3.50
|
|
Hindustan
Petroleum Corp
|
294.45
|
+3.10
|
|
HLL
|
121.65
|
-0.10
|
|
ICICI
Bank
|
262.50
|
+0.65
|
|
Infosys
Technologies
|
1,437.10
|
-10.55
|
|
ITC
|
992.50
|
-2.45
|
|
Larsen
& Toubro Limited
|
792.80
|
+26.25
|
|
Maruti
Udyog
|
426.55
|
+6.50
|
|
MTNL
|
133.30
|
+3.15
|
|
ONGC
|
699.50
|
+6.80
|
|
Ranbaxy
Labs
|
974.50
|
+0.70
|
|
Reliance
Energy
|
576.40
|
+7.20
|
|
Reliance
Industries
|
434.45
|
+6.10
|
|
Satyam
Computer Services
|
334.20
|
+8.00
|
|
State
Bank Of India
|
440.95
|
+7.50
|
|
Tata
Motors
|
403.35
|
+1.85
|
|
Tata
Power
|
263.10
|
+9.30
|
|
TISCO
|
356.65
|
+12.20
|
|
Wipro
|
524.30
|
+4.65
|
|
Zee
Telefilms
|
134.20
|
+0.85
|
Others
Geometric Software Solutions up Rs 1.05 at Rs 519
Tamil Nadu Newsprint & Papers down Rs 2.7 at Rs 53.55
Indo Rama Synthetics down Rs 3.5 at Rs 61
Great Eastern Shipping down 1.80 per cent at Rs 141.50
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As
promised Transaction Tax is revisited
New Delhi: The Finance Minister, P. Chidambaram,
has announced that the 0.15 per cent securities transaction
tax (STT) proposed in his Budget would be confined to
only delivery-based trade in equities, even while totally
exempting sale and purchase of bonds from the levy. As
for day-traders and arbitrageurs, Chidambaram has not
only slashed the STT rate to 0.015 per cent on the value
of their transactions, but also allowed them to set off
their entire STT liability against the tax paid by them
on business profits.
A
similar concession has been made to derivative traders.
The STT rate applicable on future and options trades has
been pegged even lower at 0.01 per cent and these would
again qualify for credit against tax on business profits.
Further, in the case of the 0.15 per cent STT applicable
on delivery-based trade in equity, the rate would be split
equally between the buyer and the seller. Secondly, intermediaries
who declare business profits on delivery-based transactions
can also claim credit for STT against the tax paid by
them on business profits.
The other major change in the STT regime announced today
is to treat units of equity-oriented mutual funds as 'securities'.
Transactions in such units will henceforth attract the
0.15 per cent levy as in delivery-based equity trade in
stock exchanges. Further, they will enjoy tax exemption
on long-term capital gains, along with the reduction in
the tax on short-term gains from 20 per cent to 10 per
cent proposed in the 2004-05 Budget. The minister has
also clarified that the decision to exempt trading in
all bonds (including Government securities) from the STT
would also cover units of mutual funds other than equity-oriented
funds.
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CSE
to go in for demutualisation
Kolkata: An extra-ordinary general meeting of members
of the Calcutta Stock Exchange (CSE) has adopted a resolution
regarding the demutualisation of the exchange. Members
have proposed to meet again later this month to discuss
a number of pending issues, including those related to
the Settlement Guarantee Fund.
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CalPERS
receives FII status from SEBI
Mumbai: The California Public Employees' Retirement
System (CalPERS), one of the biggest pension funds in
the US with assets of $166 billion, has been granted registration
as an FII by the market regulator SEBI, as of July 15.
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