Sensex sheds 348 pts, Nifty dips below 7,500 mark

Sensex sheds 348 pts, Nifty dips below 7,500 mark

Sensex sheds 348 pts, Nifty dips below        7,500 mark

 The market exuberance in D-Street has begun to fade on Friday on the back of the Union Budget 2014-15 lacking major policy reforms and roadmap for reduction of subsidies as the key benchmark indices succumbed to profit taking in select sectors dragging them to 5-week closing low even as investors sought the safety of defensive shares.

Even as the Finance Minister Arun Jaitley in his maiden Union Budget on Thursday toed a fine line between prudence and promises but lack of broader reforms weighed on market sentiment. 

The popular BSE Sensex shed 348.40 points or 1.37 percent to settle at 25,024.35 points, which is its lowest closing level since June 5, 2014. The index slumped 394.42 points at the day's low in late trade and jumped 175.58 points at the day's high.

The 50-unit CNX Nifty at NSE lost 108.15 points or 1.43 percent to settle at 7,459.60, which is its lowest closing level since June 4, 2014. The index hit a low of 7,447.20 and a high of 7,625.85 in intraday trade.

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