The Nifty ended sharply lower amid escalating US-Iran tensions, rupee weakness and heavy selling in financial stocks, slipping below the 50-day EMA and signalling renewed weakness. Analysts expect further downside if the index remains below 24,200, while Coforge and NBCC (India) are seen as attractive short-term trading opportunities.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would