Indian Market:
Equity benchmarks closed with modest losses on the back of profit booking as well as sell-off across the globe ahead of FOMC meet today. Technology, telecom, metal and select infrastructure companies' shares along with heavyweights like Reliance Industries
30-share BSE Sensex closed at 18,219.99, down 67.51 points or 0.37% and the 50-share NSE Nifty fell 25.45 points or 0.46% to settle at 5,460.70. The broader indices also witnessed downtrend; the BSE Midcap Index was down 0.5% and Smallcap index down 0.35%.
Tax deducted at source (TDS) has become a problematic issue with the income tax department as in more than 50% TDS refund cases it is facing an uphill task in matching the data provided in the assessee's income tax returns with the TDS deductor's information available with the NSDL.
Global Cues:
Most Asian shares fell on Tuesday, 10 August 2010, as cautious investors locked in recent gains ahead of Chinese trade data and the US Federal Reserve's monetary policy decision, both due later in the day.
China's stocks fell the most in six weeks as a slowdown in import growth boosted concern the government's lending and property restrictions are curbing demand in the world's third-biggest economy.
China's trade surplus surged unexpectedly in July to an 18-month high of $28.7 billion as exports beat forecasts, but a government-induced slowdown in investment took a toll on imports.
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