sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Markets »
 FM calms nerves, says no plan to tax market gains
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?

Budget disappoints, markets tank
July, 06th 2009

The key benchmark indices plunged further in a broad decline in late afternoon trade today. Banking, metals, realty and capital goods counters were under severe selling pressure.

Finance Minister Pranab Mukherjee set a sharply higher fiscal deficit target to 6.8 per cent for the financial year ending March 2010. In a big surprise, the finance minister totally bypassed the issue of divestment. Finance minister also surprised the markets by keeping quiet on FDI.

The Sensex was trading at 14,088, down 824 points. The Nifty fell 246 points to 4,177 levels.

Rashesh Shah, chairman of Edelweiss said, Markets are disappointed as no announcements were made on the disinvestment and FDI front.

On the sectoral front, the BSE banking index plunged 7.7 per cent. The BSE realty index fell 6.9 per cent and the BSE capital goods index shed 6.7 per cent.

In the 30-share Sensex pack, 29 stocks were trading lower.

Reliance Infra was the biggest loser. The stock plunged over 12 per cent. HDFC, SBI and Tata Steel  were the other main losers in the group, down over 8.5 per cent each.

 ITC was the only stock trading higher in the Sensex pack. The stock was up nearly 3 per cent.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions