<p>Mumbai: Stock market benchmarks indices Sensex and Nifty declined in early trade on Wednesday, extending their Budget day fall, after the government proposed to hike securities transaction tax on futures & options.</p><p>Foreign fund outflows and a weak trend in global markets also played spoilsport for the domestic markets.</p><p>After a weak beginning, the 30-share BSE Sensex further declined 233.7 points to 80,195.34. The NSE Nifty dipped 73.45 points to 24,405.60.</p><p>From the Sensex pack, Hindustan Unilever dropped 3 per cent after the firm reported just a 2.2 per cent rise in consolidated net profit at Rs 2,612 crore for April-June FY25 impacted by price reductions.</p>.Rupee trades in narrow range against US dollar in early trade. <p>Bajaj Finance, Nestle, HCL Technologies, UltraTech Cement, Mahindra & Mahindra and Adani Ports were the other big laggards.</p><p>However, ITC, Tata Motors, Tech Mahindra and NTPC were among the gainers.</p><p>The key benchmark indices ended marginally lower in volatile trade on Tuesday as the government proposed to hike the securities transaction tax on futures & options in the Budget for 2024-25.</p><p>On Tuesday, the BSE benchmark settled lower by 73.04 points or 0.09 per cent at 80,429.04. The Nifty dipped 30.20 points or 0.12 per cent to 24,479.05.</p><p>"Now that the steep increase in STCGs (Short-Term Capital Gains Tax) and the marginal increase in LTCGs (Long Term Capital Gains Tax) on equity is a reality, investors should focus on investing in stocks which can deliver superior returns. In the present context FMCG stocks look attractive from the valuation perspective," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.</p><p>In Asian markets, Seoul, Tokyo, and Hong Kong were trading lower while Shanghai quoted higher.</p><p>The US markets ended marginally lower on Tuesday.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,975.31 crore on Tuesday, according to exchange data.</p><p>Global oil benchmark Brent crude traded higher by 0.38 per cent to $81.32 a barrel.</p>
<p>Mumbai: Stock market benchmarks indices Sensex and Nifty declined in early trade on Wednesday, extending their Budget day fall, after the government proposed to hike securities transaction tax on futures & options.</p><p>Foreign fund outflows and a weak trend in global markets also played spoilsport for the domestic markets.</p><p>After a weak beginning, the 30-share BSE Sensex further declined 233.7 points to 80,195.34. The NSE Nifty dipped 73.45 points to 24,405.60.</p><p>From the Sensex pack, Hindustan Unilever dropped 3 per cent after the firm reported just a 2.2 per cent rise in consolidated net profit at Rs 2,612 crore for April-June FY25 impacted by price reductions.</p>.Rupee trades in narrow range against US dollar in early trade. <p>Bajaj Finance, Nestle, HCL Technologies, UltraTech Cement, Mahindra & Mahindra and Adani Ports were the other big laggards.</p><p>However, ITC, Tata Motors, Tech Mahindra and NTPC were among the gainers.</p><p>The key benchmark indices ended marginally lower in volatile trade on Tuesday as the government proposed to hike the securities transaction tax on futures & options in the Budget for 2024-25.</p><p>On Tuesday, the BSE benchmark settled lower by 73.04 points or 0.09 per cent at 80,429.04. The Nifty dipped 30.20 points or 0.12 per cent to 24,479.05.</p><p>"Now that the steep increase in STCGs (Short-Term Capital Gains Tax) and the marginal increase in LTCGs (Long Term Capital Gains Tax) on equity is a reality, investors should focus on investing in stocks which can deliver superior returns. In the present context FMCG stocks look attractive from the valuation perspective," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.</p><p>In Asian markets, Seoul, Tokyo, and Hong Kong were trading lower while Shanghai quoted higher.</p><p>The US markets ended marginally lower on Tuesday.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,975.31 crore on Tuesday, according to exchange data.</p><p>Global oil benchmark Brent crude traded higher by 0.38 per cent to $81.32 a barrel.</p>