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Live Market Updates: Sensex tanks over 250 pts, Nifty below 8800 post FM speech

Feb 28, 2015, 02.04 PM IST | Source: Moneycontrol.com

Axis Bank is up 5 percent, follwoed by HUL, Dr Reddy’s Labs, GAIL and Tata Motors. Among the losers are ITC, BHEL, NTPC, Tata Power and HDFC.

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Live Market Updates: Sensex tanks over 250 pts, Nifty below 8800 post FM speech

Axis Bank is up 5 percent, follwoed by HUL, Dr Reddy’s Labs, GAIL and Tata Motors. Among the losers are ITC, BHEL, NTPC, Tata Power and HDFC.

13:20

The News International Team

Disappointed investors are quickly selling off on Dalal Street after Finance Minister Arun Jaitley’s Budget speech. The Sensex is down 266.99 points or 0.9 percent at 28953.13, and the Nifty slips 68.65 points or 0.8 percent at 8775.95. About 832 shares have advanced, 1711 shares declined, and 214 shares are unchanged.

Axis Bank is up 5 percent, followed by HUL, Dr Reddy’s Labs, GAIL and Tata Motors. Among the losers are ITC, BHEL, NTPC, Tata Power and HDFC.

The government has set aside Rs 2000 crore in net receipts under the market stabilisation scheme (MSS) in the fiscal 2015-16 year, according to the budget documents. Under the MSS, the Reserve Bank of India sells government bonds to absorb excess liquidity from the banking system.

(Posted by Nasrin Sultana)

13:10

Live Market Updates: Sensex falls over 100 pts, Nifty weak; ITC drags, HUL up

ITC is down 8 percent as government has increased excise duty by 15 percent. FMCG index is down 4 percent from previous close. However, HUL is up 2 percent from the FMCG pack. Axis Bank, Tata Motors, Tata Steel and Dr Reddy’s Labs are gainers in the Sensex. Among the losers are ITC, NTPC, BHEL, Sesa Sterlite and HDFC.

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12:53

Live Market Updates: ITC drags 8%; Sensex & Nifty down post Budget speechRead More »

ITC is down 8 percent as government has increased excise duty by 15 percent. FMCG index is down 4 percent from previous close. NTPC, BHEL, L&T and Hindalco are major losers.

Read More »

12:44

Live Market Updates: Sensex, Nifty in red; investors snub FM Budget speechRead More »

Presenting the Budget for 2015, Arun Jaitley has promised to abolish wealth tax and 2 percent additional surcharge. He also promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years

Read More »

12:20

Live Market Updates: Sensex up 286pts, Nifty above 8900; govt to curb wealth taxRead More »

Presenting the Budget for 2015, Arun Jaitley has promised to abolish wealth tax and 2 percent additional surcharge. He also promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years.

Read More »

12:16

Live Market Updates: Sensex, Nifty up again; FM proposes to defer GAAR by 2 yrsRead More »

The Sensex is up 299.63 points or 1 percent at 29519.75 and the Nifty is up 88.55 points or 1 percent at 8933.15. About 1241 shares have advanced, 1177 shares declined, and 201 shares are unchanged.

Read More »

12:00

Live Market Updates: FM cuts corporate tax to 25%; Sensex, Nifty still flatRead More »

Presenting the Budget for 2015, Arun Jaitley has promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years.

Read More »

11:50

Live Market Updates: Sensex, Nifty turn flat while FM continues Budget speechRead More »

The market has turned flat while the Budget 2015 speech is still on. The Sensex is up 93.46 points or 0.3 percent at 29313.58, and the Nifty up 20.75 points or 0.2 percent at 8865.35. About 1173 shares have advanced, 1195 shares declined, and 179 shares are unchanged.

Read More »

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READ MORE ON  BSE, Sensex, Nifty, market, nse, Budget, Union Budget, Arun Jaitley, reforms, ITC, BHEL, L&T, HUL, Hero, Bajaj Auto
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