Budget fails to cheer markets; Sensex plunges 210 points
After experiencing early gains and much volatility throughout the day, both the Indian benchmark indices closed in the red.
The Nifty was down 63 points or 1.16 per cent at 5,318, while the Sensex fell 210 points or 1.19 per cent to close at 17,466. Except for auto and FMCG sectors, all the sectoral indices closed in the red with oil and gas and power sectors being among the worst-hit.
"Auto and FMCG were the only sectors to move up today as there was no higher diesel tax announcement and no increase in tax on tobacco in the Budget. This helped stocks like ITC move up," said Mr Alex K. Mathews, Head Technical and Derivatives Research, Geojit BNP Paribas Financials Ltd. "Investors who had taken positions in the morning session sold off in the second half.
ONGC and Cairn stocks contributed to the selling pressure as the Budget announced an increase in the cess on crude oil. Going forward also the market should see a selling pressure," he added. Volatility was down, with the India Vix closing down 9 per cent at 23.13
ITC, Mahindra & Mahindra, Ambuja Cements, Maruti and HUL were the top five Nifty gainers while Sun Pharma, Cairn, ONGC, Siemens, and NTPC were the losers on the Nifty.
Source: Business Line
more budget videos
Date 11-02-14 0:58
Tooltip Information:Chidambaram releases budget manualVideo by:Description: New Delhi, Feb 11 (ANI): Union Finance Minister P Chidambaram on Tuesday released budget manual in Hindi language in New Delhi. It is for the first time that Finance Ministry has released budget manual in Hindi language. The 266-page manual provides guidelines regarding the preparation of the country's annual budget as well as content of the Union budget.Rating: 4Views: 12
The Supreme Court on Wednesday upheld conviction of Gopal and Sushil Ansal in 1997 Uphaar fire tragedy case. The issue on quantum of punishment has been referred to a three-judge Bench in view of the difference in opinion between the current two judges Bench.
Date 05-03-14, Duration 2:24, Views 694
Video by: Asian News International | Gujarat Police book Arvind Kejriwal for poll code violation Has someone in your family died?: Mulayam snaps at journos Obama warns on Crimea, orders sanctions over Russian moves in Ukraine
Date 05-03-14 2:24
Tooltip Information:Uphaar fire tragedy case: SC upholds conviction of Ansal brothersVideo by:Description: The Supreme Court on Wednesday upheld conviction of Gopal and Sushil Ansal in 1997 Uphaar fire tragedy case. The issue on quantum of punishment has been referred to a three-judge Bench in view of the difference in opinion between the current two judges Bench.Rating: 4Views: 694
Date 06-03-14 1:20
Tooltip Information:Salman Khurshid hopes for fair and clean upcoming national pollsVideo by:Description: Foreign Minister Salman Khurshid hoped for clear and fair upcoming 2014 polls, stressing on complete transparency and following the moral code conduct. Khurshid said that the moral code of conduct and guidelines issued by the Election Comission of India must be implemented in a fair manner and if any unlawful activity was observed it should be immediately brought under the notice of the authorities.Rating: 4Views: 185
Date 05-03-14 2:11
Tooltip Information:Former CEC welcomes 2014 LS polls schedule, says duration made shortVideo by:Description: After Chief Election Commission on Wednesday announced the schedule for Lok Sabha polls 2014 which will be held on nine dates from April 07 to May 12 and the counting of votes will be held on May 16, former CEC SY Quraishi welcomed the same. Quraishi said that there are many good things taken up in the schedule and that the nine dates decided are made very short-spanned and that the total number of days are also reduced from what actually takes place.Rating: 4Views: 237
Date 25-02-14 1:37
Tooltip Information:LS Polls: All options open to form likeminded coalition, says CongressVideo by:Description: New Delhi, Feb 25 (ANI): Congress leader Abhishek Manu Singhvi, said that all options were open to form a non-communal and likeminded coalition in the run-up to the battle of 2014 polls. Election Commission is all set to hold the general elections starting mid-April and spread it over at least five phases till early May. Meanwhile, reacting on Aam Aadmi Party, Chief Arvind Kejriwal, Singhvi said that merely crying about negatives and not taking any measures of improvement is an insult to the nation.Rating: 4Views: 990
Date 3 hrs ago 1:31
Tooltip Information:BSE closes points 405.92 up on March 7Video by:Description: New Delhi, March 7 (ANI): Trading at the Bombay Stock Exchange today closed 405.92 points up to stand at 21,919.79. At the National Stock Exchange the Nifty closed 125.50 points up to stand at 6,526.65. Adani Enterprises Ltd. and DLF were among the top gainers of Group A with an increase of 10.13% and 9.87% along with Jaiprakash Associates Ltd. and Yes Bank with an increase of 9.76% and 8.63% respectively, while the top losers of Group A include Aurobindo Pharma Ltd. and Tech Mahindra with a decrease of 4.82% and 4.61% along with MCX and Dr Reddys Lab with a decrease of 3.74% and 3.59% at the close of the markets. The Auto sector is up 136.52 points at 12,721.44 while the banking sector is up 689.10 points at 13,567.23 and the realty sector is up 69.64 points at 1,359.57. The Indian currency is down 0.03% at Rs 61.09 per dollar.Rating: 4Views: 6
Date 4 hrs ago 1:28
Tooltip Information:SC asks Cong, BJP if they would form Government in DelhiVideo by:Description: The Supreme Court on Friday issued notice to the BJP and the Congress asking whether they will stake claim to form government in Delhi. The Centre on Thursday had justified before the Supreme Court that its decision not to dissolve the Delhi assembly after the resignation of Arvind Kejriwal as chief minister was taken in "public interest" as there was a possibility of BJP staking claim to form a government.Rating: 4Views: 12