Friday, 1 March 2013

Closing Summary, Market Synopsis: 1st March, 2013

Benchmark indices ended on a positive note today due to some positive sentiments after government’s clarification on the tax residency clause to claim tax benefits under the double taxation avoidance agreement. A statement issued by the finance ministry today assured that tax authorities would not "question" the resident status of the certificate. The National Stock Exchange's 50-share Nifty closed at 5719.70, up 26.65 points, or 0.5% from close Thursday. Intraday, the index touched a low of 5679.90 and a high of 5739.45. Sectors that gained are automobile, capital goods and metals and the laggards were realty, oil & gas and FMCG. Of the 50 Nifty stocks, 29 advanced, and 21 declined, in Sensex 30 stocks, 17 advanced, and 13 declined.

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