Indian share market rocked, Sensex slumps to 1200 points

Mumbai: A dip in the American share market created ruckus in the Indian share market. The Sensex went bearish early morning and a slump of 1200 points was witnessed. Nifty also opened before witnessing a dip of 350 points. In the start of the day, Sensex was reduced to 33,753.78 , it went down by 2.89 pc and 1003.4 points. While Nifty opened with 10,295 after a slump of 3.48 pc and 371.4 points.

Why Market slumped

It is to be noted that American Share market went to an all time low in six years. The government has imposed long term capital Gain tax. It disturbed the sentiments of Investors. As per the tax if an income earned by a year old share is 1 Lakh than Investor is liable to give 10 pc of tax.

A capital loss of 5 Lakh crores

Share Market was seen bearish since budget 2018 was announced. The investors has lost 5 Lakh crore minus the loss incurred today. (WD)