Tags: Mumbai , BSE , Sensex

Mumbai: The Sensex ended flat after a high level of volatility today as the hike in fuel prices and recommendation of the Economic Survey to rationalise dividend distribution tax (DDT) played spoilsport in bullish market.

Weakness in European stocks in early trade also weighed on investor sentiment.

The Bombay Stock Exchange 30-share barometer ended the day at 14,658.49, up 13.02 points from its previous close.

The market was choppy throughout and fluctuated in a range of 14,764.35 and 14,469.69 during the day.

Bourses shrugged off factors like minus inflation and the Survey's suggestion for a review and phasing out cesses, surcharges and transaction taxes such as fringe benefit tax (FBT), Securities Transaction Tax (STT) and Commodities transaction tax (CTT).

The Survey also suggested aggressive disinvestment and financial sector reforms to bring the economy back to a high-growth track as well as free pricing of fertiliser and fuel.

Inflation stayed negative for the third week in a row, at minus 1.3 per cent for the week ended June 20.

However, a ten per cent hike in petrol and diesel prices caused concerns about adverse impact on inflation.

Marketmen said the suggestion for rationalition of DDT induced fears that the government might make dividend taxable in the hands of shareholders.

Another finding of the study is that only 44 per cent of the respondents had valid licences.

The premier hospital has decided to forward the findings to concerned police authorities and Chandigarh Administration so that measures could be evolved to prevent accidents caused by these factors, Dr Dhillon said.

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