MARKETS LIVE: Nifty opens below 11,000, Sensex cracks 200 pts post Budget

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SI Reporter  |  New Delhi 

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Investors unhappy with Budget? Nifty Realty tanks 1.8% Sectoral Trend Sensex top gainers and losers Market at open At 9:17 am, the S&P BSE Sensex was trading at 36,662 down 243 points, while broader Nifty50 index was ruling at 10,923 down 93 points.  Views on Union Budget by Motilal Oswal ,CMD, Motilal Oswal Financial Services    Union Budget 2018-19 has a lot of significance, given that it was the first budget post the implementation of GST last year. Also Expectations and excitement were running high to the run-up to the Budget due to the subdued economic growth, challenging fiscal condition, upcoming eight state elections this year and general election next year.   We believe that the Finance Minister has managed to create a reasonable balance by meeting populist demands as well as supporting economic growth by focusing on fiscal discipline and reforms. As expected, the budget focused on farmers, agriculture, rural development and infrastructure while making all attempts to follow a fiscal prudence path. Top trading ideas by Prabhudas Lilladher   BUY BAJAJ FINANCE CMP: Rs 1,729.45 TARGET: Rs 1,850 STOP LOSS: Rs 1,680   The stock has made a double bottom formation at around 1650 levels and also taken support which is also where the significant 200 DMA lies and signifies potential to rise further from here on. The RSI has shown a trend reversal and has maintained the positive bias.   The chart looks attractive and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 1850 keeping a stop loss of 1680. Click here for more

Benchmark indices Sensex and Nifty open negative after Finance Minister Arun Jaitley proposed a long-term capital gains tax.

Budget 2018 has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares. However, capital gains made on shares until January 31, 2018, would be grandfathered, the finance minister said. Also, there has been no change in the definition of short-term capital gains tax (STCG). 

Signalling, that fiscal prudence has gone off track, Jaitley proposed a fiscal deficit target of 3.3% of GDP for 2018-19. The target he had set for 2018-19 last year was 3%.   


This year's budget focussed more on rural and agri economy. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more," he added.

Globally, Asian shares were muted following mixed signals from Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan paused around record highs.

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First Published: Fri, February 02 2018. 09:15 IST

MARKETS LIVE: Nifty opens below 11,000, Sensex cracks 200 pts post Budget

Catch all live market action here

Catch all live market action here
Benchmark indices Sensex and Nifty open negative after Finance Minister Arun Jaitley proposed a long-term capital gains tax.

Budget 2018 has proposed to levy long-term capital gains tax (LTCG) of 10% on gains exceeding Rs 100,000 from sale of equity shares. However, capital gains made on shares until January 31, 2018, would be grandfathered, the finance minister said. Also, there has been no change in the definition of short-term capital gains tax (STCG). 

Signalling, that fiscal prudence has gone off track, Jaitley proposed a fiscal deficit target of 3.3% of GDP for 2018-19. The target he had set for 2018-19 last year was 3%.   


This year's budget focussed more on rural and agri economy. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more," he added.

Globally, Asian shares were muted following mixed signals from Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan paused around record highs.
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