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Share Market LIVE: SGX Nifty in green ahead of opening; Govt ups cess on crude oil, cuts tax on diesel export – The Financial Express

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Dalal Street benchmark indices were down in the red on Wednesday. S&P BSE Sensex fell more than 200 points or 0.39% to sit around 57,900 while the NSE Nifty 50 index was holding 17,200. Bank Nifty gave up 38,000 mark while India VIX rose and inched closer to 19 levels. Bharti Airtel was up 0.92% as the top Sensex gainer, followed by HUL, and Tata Steel, Kotak Mahindra Bank was the top laggard, down 0.90%, followed by Mahindra & Mahindra, and IndusInd Bank.

In its second review, the government of India on late Tuesday evening announced a reduction in the windfall tax on Diesel exports to just Rs 5 per litre. The move could benefit fuel exporters such as Reliance Industries. While the tax on diesel exports has been cut from Rs 11 per litre to just Rs 5 per litre, the new additional excise duty (cess) on petroleum crude was increased marginally from Rs 17,000 to Rs 17,750 per tonne, as the trade parity prices followed by domestic oil producers like ONGC and OIL rose marginally since mid-July, in line with the global crude prices. The government notification also said that the tax on ATF has been removed. 

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