Market Cautious over Expire of September derivative Contracts
After a gain for continuous 8 trading session BSE sensex ended in red for the last two session of the week. Sensex lost approx 90 points in two trading session due to profit booking.
September derivative contracts expire on 30th. Normally Volumes dip on the eve of expire as volatility raises.
New tax rules are likely to become effective from Friday, 1 October 2004. From that day, turnover tax will replace long-term capital gains tax. Short-term capital gains tax will be applicable at a uniform 10% as compared to prevailing 10-30%. Turnover tax on delivery based trades will be levied at 0.15% to be shared equally between buyer and seller. On non-delivery based trades, turnover tax will be applied at 0.015%. It will be applicable at 0.01% in futures & options segment.
Market is now waiting for the fresh triggers that will come with Q2 results. The Q2 results would start trickling in from the 10-11 September 2004. Usually Infosys kickstarts the quarterly results season on 10th or 11th of the month.
Our 4th September call of Bombay Dyeing has shown smart gains. Stock has gained more than 12% in 15 trading session. Stay invested as Bombay Dyeing is likely to touch 195 mark in 2-3 weeks to come.
Pick for today Rajshree Sugars.
Buy Rajshree Sugars @ 31-35 --> 5/7 Weeks view.
September derivative contracts expire on 30th. Normally Volumes dip on the eve of expire as volatility raises.
New tax rules are likely to become effective from Friday, 1 October 2004. From that day, turnover tax will replace long-term capital gains tax. Short-term capital gains tax will be applicable at a uniform 10% as compared to prevailing 10-30%. Turnover tax on delivery based trades will be levied at 0.15% to be shared equally between buyer and seller. On non-delivery based trades, turnover tax will be applied at 0.015%. It will be applicable at 0.01% in futures & options segment.
Market is now waiting for the fresh triggers that will come with Q2 results. The Q2 results would start trickling in from the 10-11 September 2004. Usually Infosys kickstarts the quarterly results season on 10th or 11th of the month.
Our 4th September call of Bombay Dyeing has shown smart gains. Stock has gained more than 12% in 15 trading session. Stay invested as Bombay Dyeing is likely to touch 195 mark in 2-3 weeks to come.
Pick for today Rajshree Sugars.
Buy Rajshree Sugars @ 31-35 --> 5/7 Weeks view.
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