Sensex dives below 33,800-mark as markets turn choppy - The equity markets continued t- Navbharat Times Photodhamal

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The equity markets continued to be volatile in Tuesday's early trade as Sensex and Nifty erased early gains.

In This Pic : Sensex

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30-share BSE Sensex jumped more than 50 points to open on 33,913.55 while the broader 50-share NSE Nifty too gained 42 points to start trading on 10,477.55. However both the indices made a U-turn after the initial gains and by 10 am had plunged in the red.

In This Pic : Sensex

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The choppy nature of investors' sentiments can be gauged from the fact that Sensex has witnessed a swing of more than 200 points within the first hour of trading.

In This Pic : Sensex

Pic Courtesy : BCCL - Non Copyright

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The Street has been circumspect since Monday over rumours about a government move to introduce long-term capital gains (LTCG) tax on stock investments, mainly to compensate for the loss in GST collections, spooked Dalal Street investors in the last hour of trade on Monday.

In This Pic : Sensex

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This led to a sharp dip in stock prices in the first session of 2018. As a result, the sensex — after remaining range-bound for most of the session due to low institutional participation during the New Year holidays — lost over 200 points within an hour and closed 244 points lower at 33,813 on Monday.

In This Pic : Sensex

Pic Courtesy : BCCL - Non Copyright