BSE Sensex and NSE Nifty lost over 1% in morning trade on Monday December 26, 2016 after Prime Minister Narendra Modi said that long-term capital gains tax may be introduced. Although, Finance Minister Arun Jaitley was quick to issue a clarification that PM's words were misrepresented and no such proposal was under consideration. 

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However, BSE Sensex opened lower and quickly fell by over 1% before gaining some ground. At 10.11 am, BSE Sensex was trading at 25,838.82 points, or down 0.78%. NSE Nifty too was down 0.80% or 64.05 points at 10.12 am. 

NSE Nifty had only six advances and 45 stocks were in decline. 

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