Mkts crash on Budget day; Sensex tanks 869.65 pnts
Mumbai, Jul 6: The Dalal Street that opened on a positive note before the Budget presentation began, soon slipped and crashed due to high hopes on the UPA Budget. This has been the biggest crash on the budget day since 10 years.
The 30-share BSE Sensex plunged 869.65 points or 5.83 per cent, to shut shop at at 14,043.40. The 50-share NSE Nifty closed at 4165.70, loosing 5.84 per cent or 258.55 points.
Huge selling in banking, realty, capital goods, power, metal and oil & gas which weighed on the benchmarks.
Ranbaxy Labs, HUL and ITC were the only gainers on the benchmark indices.
The duty on paperboard which was retained at 4 per cent. This proved positive for ITC
Mkts continue in red; IT, Auto, Power dip
At 1: 47 PM, the Sensex tumbled 646 points, to 14,268 and the Nifty fell 195 points, to 4,228. The broader indices slipped 2.3 to 3 per cent.
The disappointment of the Budget continues to weigh on the markets. Only four out of the 50 stocks on Nifty were trading in green.
Among the sectors, Bank and Metal indices tanked 6.5 per cent each. Capital Goods, Power, Realty, Oil & Gas, TECk, Auto, Healthcare and IT indices lost 2 to 5 per cent. However, the FMCG Index gained 1.3 per cent.
2: 40 PM
Mkts plunge as inflated hopes from budget weren't met
The markets slipped terribly even as the Finance Minister tabled the Union Budget 2009-10.
The Sensex was down 746 points, to 14166 and the Nifty fell 225 points, to 4,198.
Amid the high expectations from the Union Budget and the FM not mentioning anything about the divestment, infrastructure, fuel policy and FDI led to this plunge.
All the sectoral indices are in the red.
12: 54 PM
Mkts open high ahead of Budget; Sensex above 15k
The markets responded to the expectations of the Union Budget 2009-10 on a high note. The benchmarks surged and Infrastructure, realty, oil marketing companies and select metal stocks saw buying interest.
At 9:56 am, the BSE Sensex gained 106 points, to 15,019 and the NSE Nifty rose 29 points, to 4,455. The CNX Midcap went up 36 points, to 5,574 and BSE Smallcap Index rose 0.7 per cent, to 5866.
Sun Pharma, NTPC, DLF, BPCL, Ambuja Cements, TCS, ABB, Power Grid, L&T and Unitech were gainers while Tata Steel, ITC, Sterlite and Infosys were the losers among the frontliners.
Asian markets are trading mixed.