Sensex crashes 840 pts on Budget woes, Nifty below 10800

Benchmark Sensex slid 136 points in late morning deals following continued selling pressure in key frontline shares of healthCar

Sensex crashes 840 pts on Budget woes, Nifty below 10800

The Indian rupee on Friday pared all the morning losses and strengthened against the U.S. dollar in mid-day trading.

Finance Minister Arun Jaitley projected a fiscal deficit of 3.5 per cent of GDP for current fiscal against the earlier target of 3.2 per cent which also dampened the market sentiment.

The BSE 30-share Sensex plummeted by 840 points, its biggest single-day slump since August 24, 2015, while the broader NSE Nifty tanked by over 250 points to finish below 10,800. Incidentally, the BSE Midcap and BSE Smallcap indices lost over 4% each. After the budget was tabled by the FM Jaitley, Nifty was also reported to be falling at 10,968 points.

Cummins India (8.47%), Bajaj Auto (4.90%) and Bharat Forge (4.57%) were the top losers on the index. Total amount of exempted is around 3.67 lakh crore. The company had posted a consolidated net profit of Rs 976.82 crore in the year-ago quarter. TCS at 0.33% margin, Hindustan Unilever at 0.10%, and Wipro at 0.05%.

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Castro has about 365 students in grades 6-8 and almost all are Hispanic and many from low-income families. At the front gate of the school, McNair said she was directed to the back, which was blocked off.

The Sensex touched a high of 36,136.40 points and a low of 36,021.88 points in the trade so far.

PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,598.55 million.

Realty stocks the biggest casualty, fell over 6%. So if you have bought into the India story, certainly this tax incidence should not be a deterrent.

The BSE market breadth was bearish with 498 declines and 139 advance.

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All the sectoral indices ended in the red.

According to market observers, expectation of sops from the Union Budget, along with positive Asian markets and healthy buying in consumer durables, capital goods and banking stocks, lifted investors' risk-taking appetite.

Several foreign portfolio managers said they were taking a close look at the possible impact of LTCG tax on their India investments.

"Investors were disappointed with the LTCG tax coming in, over and above the securities transaction tax (STT) (paid on all stock trades)", said Anita Gandhi, whole time director at Arihant Capital Markets.

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According to Italian news agency ANSA, he made a fascist salute at the city's war memorial before being arrested by police. Paramedics, background center, attend a wounded man after a shooting broke out in Macerata, Italy, Saturday, Feb. 3, 2018.

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