Nifty recovers and hits 8665; capital gains tax kept intact

  The Indian stock markets recovered from their lows at the end of the Union Budget announcement, after Arun Jaitley announced that the capital gains tax rate remains unaltered, and the holding period for short term capital gains also remains unchanged.

Nifty hit low of 8537 and then recovered to trade above the 8600 mark at 8665 levels; whereas Sensex gained 308 points or 1.1%, standing at 27965 levels