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Money News

Sensex falls for third day; budget unveils equities tax

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/Files

(Reuters) - Indian shares ended lower for a third straight session on Thursday, after the government’s 2018/19 budget set a capital gains tax on long-term equity investments, although investors welcomed higher spending in key areas of the economy such as agriculture.

The Nifty ended 0.1 percent down to 11,016.90 in a volatile session where shares briefly plunged 1.35 percent and gained up to 0.81 percent.

The Sensex closed 0.16 percent lower at 35,906.66.

Reporting by Vishal Sridhar in Bengaluru; Editing by Sherry Jacob-Phillips

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