The markets lost further grounds and are now trading near the day’s low. The Union Budget failed to provide enthuse the investor’s sentiments today. Finance Minister Pranab Mukherjee withdrew fringe benefit tax (FBT) and abolished the commodities transaction tax (CTT). He also kept the corporate tax unchanged and increased the minimum alternate tax to 15% from 10% of book profit.
The budget focuses more on infrastructure growth. The significant selling witnessed among the Banking, Capital Goods, Metal and Power stocks.
The BSE Sensex is now trading below the 14,100 mark and the NSE Nifty below the 4,200 mark.
The overall market breadth is negative as 624 stocks are advancing while 1848 stocks are declining in BSE.
ITC reported the top gainer from the BSE Sensex pack, as it is trading up by (3.96%) at Rs. 199.40 while Reliance Infra reported the top loser trading down by (11.09%) at Rs. 1,149.
The BSE Sensex is trading down by 828.13 points at 14,084.74 and the NSE Nifty is trading lower by 253.75 points at 4,170.50.
The BSE Mid Cap decreased by 222.71 points to 4,964.51 and the BSE Small Cap fell by 206.75 points to 5,618.20.
The Finance Minister has announced a reduction in the customs duty on LCD television sets to 5 percent from 10 percent currently, in the budget 2009-10 on Monday.
The Metal index is trading with losses of 743.29 points at 10,560.05. Losers from this pack are Tata Steel trading down by 9.03% at Rs398.70 along with Ispat Industries by 7.31% at Rs20.30, Jindal Steel by 7.22% at Rs2,439.90, Hind Zinc by 6.68% at Rs562, SAIL by 6.35% at Rs151.25, Hindalco Inds by 5.73% at Rs78.95, Sesa Goa by 4.88% at Rs178.20, Welspun Guj by 4.86% at Rs187.90, NMDC by 4.59% at Rs344 and Gujarat NRE Coke by 4.61% at Rs40.35.
The Capital Goods index is trading lower by 821.41 points at 12,191.65. Scrips that are trading with deep cut are Punj Lloyd trading down by 10.56% at Rs197.25 followed by Areva by 9.13% at Rs315.50, L&T by 8.01% at Rs1,479, Bharat Bijli by 7.78% at Rs797, Alstom Projects by 6.61% at Rs445.10, ABB by 6.01% at Rs737 and SKF India by 5.15% at Rs242.
The most active shares on NSE are Unitech trading at Rs 76.45 with a total traded quantity of 69435878 shares followed by Suzlon Energy trading at Rs.101.35 with a total traded quantity of 45821027 shares.
Hindustan Dorr Oliver Limited is trading lower by 2.04% at Rs93.55. The company has informed that the Company has bagged an order from CIDCO (City & Industrial Corporation of Maharashtra Limited), Navi Mumbai, for Design, Engineering, Supply, Construction, Erection and Commissioning of their 70 MLD Sewage Treatment Plant coming up in Kharghar, Navi Mumbai.
The project value is 60.3 crores and completion period is 24 months. The project also includes 5 year Operation and Maintenance.
The Company will be installing state-of-the-art Sequential Batch Reactor Technology for treatment of Sewage.
On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.31%), (1.65%) and (1.58%) respectively.
The budget focuses more on infrastructure growth. The significant selling witnessed among the Banking, Capital Goods, Metal and Power stocks.
The BSE Sensex is now trading below the 14,100 mark and the NSE Nifty below the 4,200 mark.
The overall market breadth is negative as 624 stocks are advancing while 1848 stocks are declining in BSE.
ITC reported the top gainer from the BSE Sensex pack, as it is trading up by (3.96%) at Rs. 199.40 while Reliance Infra reported the top loser trading down by (11.09%) at Rs. 1,149.
The BSE Sensex is trading down by 828.13 points at 14,084.74 and the NSE Nifty is trading lower by 253.75 points at 4,170.50.
The BSE Mid Cap decreased by 222.71 points to 4,964.51 and the BSE Small Cap fell by 206.75 points to 5,618.20.
The Finance Minister has announced a reduction in the customs duty on LCD television sets to 5 percent from 10 percent currently, in the budget 2009-10 on Monday.
The Metal index is trading with losses of 743.29 points at 10,560.05. Losers from this pack are Tata Steel trading down by 9.03% at Rs398.70 along with Ispat Industries by 7.31% at Rs20.30, Jindal Steel by 7.22% at Rs2,439.90, Hind Zinc by 6.68% at Rs562, SAIL by 6.35% at Rs151.25, Hindalco Inds by 5.73% at Rs78.95, Sesa Goa by 4.88% at Rs178.20, Welspun Guj by 4.86% at Rs187.90, NMDC by 4.59% at Rs344 and Gujarat NRE Coke by 4.61% at Rs40.35.
The Capital Goods index is trading lower by 821.41 points at 12,191.65. Scrips that are trading with deep cut are Punj Lloyd trading down by 10.56% at Rs197.25 followed by Areva by 9.13% at Rs315.50, L&T by 8.01% at Rs1,479, Bharat Bijli by 7.78% at Rs797, Alstom Projects by 6.61% at Rs445.10, ABB by 6.01% at Rs737 and SKF India by 5.15% at Rs242.
The most active shares on NSE are Unitech trading at Rs 76.45 with a total traded quantity of 69435878 shares followed by Suzlon Energy trading at Rs.101.35 with a total traded quantity of 45821027 shares.
Hindustan Dorr Oliver Limited is trading lower by 2.04% at Rs93.55. The company has informed that the Company has bagged an order from CIDCO (City & Industrial Corporation of Maharashtra Limited), Navi Mumbai, for Design, Engineering, Supply, Construction, Erection and Commissioning of their 70 MLD Sewage Treatment Plant coming up in Kharghar, Navi Mumbai.
The project value is 60.3 crores and completion period is 24 months. The project also includes 5 year Operation and Maintenance.
The Company will be installing state-of-the-art Sequential Batch Reactor Technology for treatment of Sewage.
On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.31%), (1.65%) and (1.58%) respectively.
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