In the run-up to Budget 2018, the market was worried about imposition of long term capital gains tax (LTCG) amid other things. However, the grandfathering provision that the finance minister introduced will make the overall impact on the market sentiment quite negligible. This is despite the fact that we are trading near all-time highs. If all the existing capital gains (till January 31, 2018) are grandfathered, then there is nothing much to worry about. That’s because when investors will buy stocks now, they will build in a 10% payout as LTCG in their return expectation. Therefore, I do not think