Indian shares are expected to open lower on Monday as post-Budget pressure on equities likely to continue for the second day. Benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 1 percent on Friday following various Budget proposals such as buyback tax on companies, higher taxes on the super-rich and raising the limit of minimum public shareholding.
The Sensex ended 395 points lower at 39,515, while the broader Nifty50 index lost 136 points to end at 11,811.
Moreover, Asian shares traded lower after positive US jobs data tempered prospects of aggressive US Federal Reserve monetary policy.
At 7.55 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 47.50 points, or 0.40 percent, lower at 11,770, pointing to a negative start for the Sensex and the Nifty 50.
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