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Concerns over Mauritius tax treaty pulls down markets on Wednesday

India Blooms News Service | | May 11, 2016, at 11:45 pm

#Indian Market # Sensex # Nifty

Mumbai, May 11 (IBNS) Indian markets ended lower at close of business on Wednesday following the central government's decision to amend its tax treaty with Mauritius allowing for the taxation of capital gains tax on investments channelled through it and weak global cues, media reported.

On Wednesday, Sensex fell 175.51 points to 25597.02 and Nifty fell 38.95 points to 7848.85.

Some of the top gainers for the day were Axis Bank, Asian Paints, Maruti, NTPC and L&T while Bharti, SBI, Dr Reddy's Labs, Tata Motors and BHEL were major losers.

The Supreme Court on Wednesday struck down TRAI's mandate to telecom companies asking them to compensate users for call drops.

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