The market has turned volatile and is hunting for positive cues after FM Arun Jaitley read his Budget speech today. Jaitley imposed LTCG tax on equities which will make the investment class less attractive to FIIs, DIIs and retail investors. The Sensex and Nifty which started higher today felt a brief impact of the impostion of LTCG tax. The Sensex tanked over 400 points on the LTCG tax announcement but later cut losses to trade nearly 80 points lower after the FM finished his speech today.UNION BUDGET 2018
1:45 pm: Finance Minister Arun Jaitley says the government has earmarked some companies for privatisation under its stake sale programme for 2018/19
12:36 pm: Standard deduction of Rs 40,000 announced for salaried employees in lieu of transport medical expenses.
12:26 pm: FY 19 fiscal deficit target fixed at 3.3% of GDP.
11: 45 am: Government to invest Rs 1 trillion in development of premium education infrastructure over next four years: Arun Jaitley
11: 44 am: Government to spend Rs 14.34 trillion on creation of rural infrastructure in 2018/19, says Arun Jaitley
11:13 am: India is already the 7th largest economy in the world, and will become the 5th largest economy very soon.
10:14 AM: Vakrangee Limited is the top BSE loser falling 20% to 292.30 level.
10: 13 AM: Fortis Healthcare (9.31%), Supreme Industries (4.73%) are other major losers on BSE.
10:05 am: "I think the budget will be focused on both investors as well as the common man," said A. Balasubramanian, chief executive officer at Aditya Birla Sun Life Asset Management, adding he expects a deficit of 3.2 percent. "The government will take care so that the budget is neither inflationary nor fiscally less prudent."
10:02 am: BSE small cap index rises 146 points to 18,862 level, midcap index is up a meagre 3.42 points to 17,367 level.
9:43 am: Top BSE gainers are IIFL (6.58%), Avanti Feeds (5.22%) and Escorts (4.97%).
9:37 am: Tata Steel (1.55%), Dr Reddy's (0.82%) and PowerGrid (0.78%) are the top Sensex losers.
9:30 am: Top Sensex gainers are L&T (3.24%), TCS (1.93%) and M&M (1.60%).
9:17 am: Sensex opens 157 points higher to 36121, Nifty up 41 points to 11,067 level.