Live market update: BSE Sensex crashes 241.04 pts after FM Arun Jaitley’s budget speech
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The benchmark BSE Sensex crashed 104 points after Finance Minister Arun Jaitley’s Union Budget 2015. Even the broader NSE Nifty dropped few points.
At 1:50 pm, the BSE Sensex was trading at 28975.57 down -0.84 per cent. The Nifty drops -0.59 per cent to 8783.80.
Ahead of Narendra Modi government’s first full Budget 2015, The 30-share index of the Bombay Stock Exchange, which zoomed 473.47 points in the previous session on the back of robust growth projections in the Economic Survey, gained 262.33 points, or 0.89 per cent, to 29,482.45. Similarly, the National Stock Exchange index Nifty reclaimed the 8,900-mark by surging 74.65 points, or 0.84 per cent, to 8,919.25.
The Sensex logged its best daily gain in almost six weeks to regain 29000 level after Economic Survey made a strong pitch for big-bang reforms while projecting faster growth and improved fiscal situation.
The government’s economy survey reiterated India would not overshoot its deficit target of 4.1 per cent of gross domestic product in the current financial year ending March. It also stood by a medium-term target of cutting it to 3 percent of GDP.
Brokers said continued buying by funds and retail investors on hopes of an investor-friendly and growth-oriented Budget for 2015-16 influenced trading sentiments.
All the sectoral indices, led by capital goods, realty, power and banking were trading in positive zone with gains up to 1.76 per cent.
This is probably the first time in many years that the Union Budget is being presented on a Saturday. The stock markets are generally closed on Saturdays and Sundays, except for special circumstances.
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Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
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The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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