Live
- BMW's another all-electric car launched in India
- Kajol’s style mantra of the day: Life is short, let my pallu be long
- IPL 2024: Sometimes it works, sometimes it doesn't work, says R Sai Kishore on being held back till 19th over
- Treating politician differently from ordinary criminal will violate Constitution: ED tells SC on CM Kejriwal's plea
- Adverse weather conditions may hit mango crops in UP: Experts
- Cong to snatch reservation from Dalits, says Union Minister Pralhad Joshi
- Congress tied hands of our soldiers, we gave them full freedom to retaliate: PM Modi
- Big B on being honoured with Mangeshkar Award: ‘Abhaar aur mera param saubhagya’
- Fashion Entrepreneur Fund opens up for pre registrations
- ICEA shares blueprint for India to become a global leader in chip value chain
Sensex witnesses 530.85-point slump post Budget presentation
Market indices took a steep hit in Friday morning trade, in response to this year\'s Union Budget\">Budget, tabled earlier on Thursday.
Mumbai : Market indices took a steep hit in Friday morning trade, in response to this year's Union Budget">Budget, tabled earlier on Thursday.
While the Sensex fell by 530.85 points to 35,376.40, NSE's Nifty saw a 158.85 point decline to 10,858.05.
While HCL Technologies, Bajaj Auto, and ITC gained early, stocks of Axis Bank, Yes Bank, SBI, Adani Ports, ICICI Bank, Kotak Mahindra Bank, and Tata Steel incurred early losses.
Meanwhile, the rupee dropped by 6 paise to 64.08 against the dollar in morning, largely due to concerns over widening fiscal deficit.
The government on Thursday in the Union Budget">Budget 2018-19 introduced a long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh, which spurred volatility in the foreign exchange market.
Further, Finance Minister Arun Jaitley in his Budget">Budget speech said corporate tax for 2018-19 has been cut to 25 percent for companies with revenue up to Rs 250 crore, while personal income tax remains untouched.
