Press Esc to close
Wednesday 23 July 2014
News updated at 2:31 AM IST
Weather
Max: 28°C
Min : 21.3°C
In Bangalore
Sunny day

Sensex falls 291 points after budget proposals

Mumbai, Feb 28, 2013 (IANS)
File photo.

In the absence of any significant market moving proposals in the union budget presented Thursday, a benchmark index for Indian equities tanked nearly two percent in volatile trade. 

Finance Minister P. Chidambaram's budget proposals like higher taxes on corporates and individuals further weighed on the markets.
 
His plan to liberalise the Rajiv Gandhi Equity Savings Scheme (RGESS) by extending it beyond one year to three years and raising the income limit under the scheme from Rs.10 lakh to Rs.12 lakh did not help much. 

Capital goods, bank, metal, public sector undertakings (PSUs) and oil and gas stocks plummeted. Consumer durables, information technology (IT) and technology, media and entertainment stocks, however, moved up. 

The 30 scrip Sensex of the Bombay Stock Exchange (BSE), which opened at 19,264.80 points, closed at 18,861.54 points, down 290.87 points or 1.52 percent from its previous close at 19,152.41 points.


The Sensex touched an intra-day high of 19,322.28 points and a low of 19,793.97 points. The midcap index was down 158.95 points, while the smallcap index dipped 124.83 points. 

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) closed lower by 103.85 points or 1.79 percent at 5,693.05 points. 

The BSE bank index closed lower by 491.82 points, followed by capital goods, down 321.79 points, metal index, down 275.39 points, PSUs index, down 198.27 points, and the oil and gas index, down 143.97 points. 

The BSE consumer durables index was up 60.61 points, while the IT index moved 31.78 points higher and the TECk index was up 4.19 points.

On the other hand, the BSE capital goods index was up 223.57 points, followed by the bank index, which closed 109.30 points higher, metal index, up 102.87 points, oil and gas index, up 102.05 points and the public sector undertakings (PSU) index, up 72.10 points.

The major losers included State Bank of India (SBI), down 5.80 percent at Rs.2,085.40; Tata Steel, down 4.04 percent at Rs.342.35; ICICI Bank, down 3.86 percent at Rs.1,040.30; Maruti Suzuki, down 3.74 percent at Rs.1,356.65; and Larsen and Toubro (L&T), down 3.17 percent at Rs.1,365.80.

Only five of the 30 Sensex companies were gainers. These were Tata Consultancy Service (TCS), up 2.14 percent at Rs.1,514.75; Bharti Airtel, up 0.62 percent at Rs.323.55; Tata Motors, up 0.49 percent at Rs.287.40; Sun Pharma, up 0.40 percent at Rs.802.50; and Bajaj Auto, up 0.35 percent at Rs.1,971.60.

Among other Asian markets, Japan's Nikkei closed 2.71 percent higher, while Hong Kong's Hang Seng ended 1.96 percent up. China's Shanghai Composite Index also closed 2.26 percent higher.

In Europe, Britain's FTSE 100 was up 0.31 percent, while the German DAX was trading 0.74 percent higher. The French CAC 40 was up 0.35 percent.

Go to Top

Photo Gallery
Telangana chief minister K.Chandrashekhar Rao presenting a letter of appointment...

Telangana chief minister K.Chandrashekhar Rao presenting a letter of appointment...

Sand artist Sudarsan Pattnaik created a sand sculpture on sexual assault of a 6 year old girl...

Sand artist Sudarsan Pattnaik created a sand sculpture on sexual assault of a 6 year old girl...

Prime Minister Narendra Modi receives Swami Vishvesha Tirtha of Pejawar Mutt, in New Delhi...

Prime Minister Narendra Modi receives Swami Vishvesha Tirtha of Pejawar Mutt, in New Delhi...

Mercedes Benz MD aand CEO Eberhard Kern at the launch of Mercedes CLA 45 AMG...

Mercedes Benz MD aand CEO Eberhard Kern at the launch of Mercedes CLA 45 AMG...

Children playing football in a waterlogged field after heavy rains at a village in Balurghat...

Children playing football in a waterlogged field after heavy rains at a village in Balurghat...

People enjoy a dip in temperatures at the Rajpath amid heavy shower in New Delhi...

People enjoy a dip in temperatures at the Rajpath amid heavy shower in New Delhi...

Abhishek Bachchan, owner of Pink Panther Kabaddi team, pose for a group photo...

Abhishek Bachchan, owner of Pink Panther Kabaddi team, pose for a group photo...

Women labourers cover themselves as rain showers lash at Ghatanji on the outskirts of Yavatmal...

Women labourers cover themselves as rain showers lash at Ghatanji on the outskirts of Yavatmal...

The Gaganachukki and Bharachukki Falls in full splendour following the of release of water...

The Gaganachukki and Bharachukki Falls in full splendour following the of release of water...

UNICEF Goodwill Ambassador, Roger Moore addressing at the UNICEF and Commonwealth Games...

UNICEF Goodwill Ambassador, Roger Moore addressing at the UNICEF and Commonwealth Games...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523