Sovereign Gold Bonds (SGBs) experienced a significant drop of 8-10% as investors shied away from the secondary market following the government’s withdrawal of tax benefits on capital gains at maturity. This move, coupled with falling gold prices, has prompted wealth managers to advise investors to re-evaluate their investment strategies.
Market rout: 7 of top-10 valued firms see Rs 1.25 lakh crore erosion
The stock continued to remain the most valued listed company in the country despite the decline.