Closing Summary- Market Synopsis- 27 March, 2012

The main Indian stock indices managed to reverse the previous day’s losses and ended the day with handsome gains. Yesterday’s sharp fall had come amid fears that FIIs from Mauritius and investments made through PNs will be taxed from 1^st April when the proposed GAAR comes into effect. However, the same perked the sentiment today in the afternoon trade after a Finance Ministry official was quoted as saying that the Government will not target Participatory Notes (PNs) across the board under the new GAAR regulations. The mixed flow of news resulted in the highly volatile day and this led the midcap and the small-cap counters to close weak.
(Pic. Source- bseindia.com)