Election Results 2024: With BJP likely to fall short of halfway mark, Shankar Sharma predicts LTCG, STCG tax to go down
Also Read: Bull market needs fuel by way of equity capital or debt: Shankar SharmaWhen units of equity-oriented funds or listed equity shares are sold after a year, the LTCG tax becomes applicable. Any gains over ₹1 lakh in a year are subject to a 10% tax.Over the weekend, exit polls predicted that the NDA would win over 350 seats.
The Nifty 50 and the BSE Sensex, two benchmarkindices, both saw significant declines of more than 5% on Tuesday, following their all-time high on Monday.On Tuesday session, the 30-share BSE Sensex ended lower by 4,389.73 points or 5.74% at 72,079.05 level while the Nifty 50 closed at 21,884.50 level, down 1,379.40 points or 5.93%.Also Read: NSE to suspend trading in Shankar Sharma portfolio stock Brightcom Group from June 14The market continued to anticipate stability within the alliance, with the BJP emerging as the primary election victor, according to Vinod Nair, Head of Research at Geojit Financial Services, hence limiting significant medium-term downside. The rural economy will benefit from this significant shift in government policy, which is expected to put a strong emphasis on social economics.Also Read: Shankar Sharma portfolio: Ace investor appears on shareholder list of multibagger AI stock during Q4FY24.
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