Budget 2018: Sensex jumps above 36000, Nifty crosses 11000

03 February, 2018, 01:45 | Author: Elaine Woods
  • Benchmark Sensex slid 136 points in late morning deals following continued selling pressure in key frontline shares of healthCar

As for the government's fiscal deficit goal, Jaitley set a target of 3.3% of the gross domestic product for the year starting in April, more or less in line with market participants' expectations.

The Nifty tanked 256.30 points or 2.33 per cent to end the session at 10,760.60. The Sensex traded in a range of more than 750 points, changing directions multiple times, as investors digested the budget for the fiscal year beginning April. 1. IT was the only sectoral sub-index to clutch strong point.

Small caps also contributed to losses falling 869 points to 17,847 level. The company had posted a consolidated net profit of Rs 976.82 crore in the year-ago quarter. TCS at 0.33% margin, Hindustan Unilever at 0.10%, and Wipro at 0.05%.

Maruti Suzuki India, Reliance Industries, Bharti Airtel, HPCL, Axis Bank, Indiabulls Housing Finance, GAIL, Bajaj Auto, Bajaj Finance and UltraTech Cement fell 4-6 percent in the Nifty pack.

Although the market recovered later in the day, it could not hold on to its gains and closed lower, with BSE Sensex down 58.36 points at 35906.66 and NSE Nifty down 10.80 points at 11016.90.

Spanish police find 8000 lbs of stolen oranges in traffic stop
However, a robbery report from Carmona law enforcement connected a missing shipment of oranges to the traveling orange family. Authorities continued questioning the people and a lot of them couldn't explain where the four tons of oranges had come from.

Google Flights will use machine learning to predict flight delays
Google says it can also cite reasons for those delays, such as the weather or the plane arriving at the gate later than scheduled. As VentureBeat points out, airlines have started pushing "basic economy" seating since Delta kicked off the trend in 2012.

Maduro rejects Spanish PM´s comments in support of Venezuelan sanctions
Spanish government spokesman Inigo Mendez de Vigo told reporters after the weekly Cabinet meeting Friday that Isea was being expelled "in a strict application of the rule of reciprocity".

PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,598.55 million.

GMR Infra (15.38% ) and Bombay Dyeing (13.41%) were other major losers on BSE. The impact of poor Union Budget followed by weak Q3 results led to the fall in the markets. "That is likely to be the thought process of institutional buyers too, but it is fair to expect some churning before FY 2019 starts". On the NSE, 135 stocks advanced, 1,716 declined and 31 remained unchanged. 125 stocks were unchanged.

PC Jeweller crashed almost 60 percent in morning following further correction in Vakrangee wherein the company holds some stake, but post the management clarification saying there is no business interest with the IT firm, the stock recovered half of losses to trade lower by 25 percent.

The government's move to bring back long-term capital gains tax on equities and retain securities transaction tax (STT) has raised questions in many quarters.

Recommended:



Popular

John Wall out for All-Star game. Will Dragic be his replacement?
Simmons is averaging 16.6 points, 7.9 rebounds and 7.3 assists this season, making a srtrong case for Rookie of the Year honours. Newly acquired Pistons forward Blake Griffin tweeted out his congratulations for Drummond.

Samsung Electronics mass producing ASIC chips for cryptocurrency mining
Yes, this hardware will help you with mining for cryptocurrencies like Bitcoin and Ethereum . GPUs are used to handle graphics on computers as well as being deployed for mining purposes.

CDC director resigns after reports of buying tobacco stock
A CDC report released in November found that 1 in 5 US adults used some type of tobacco product in 2015. Specifically in Japan Tobacco, with investments ranging from $1,001 to $15,000.

Capita shares plummet 40% on firm's 'lack of operational discipline'
Around 1500 GMT in London, Capita shares traded down 43.37 percent at 196.95 pence, compared with the closing value on Tuesday. Capita said underlying profits for 2018 would be between £270m and £300m, falling short of analysts' predicted £400m.

Vladimir Putin to Russian athletes: Ignore doping scandals at Olympics
Pyeongchang 2018 remain confident the spectacle at the open-air venue will take place before a packed crowd, however. You are part of a great team to which everybody belongs. "It's North Korea's responsibility to show its sincerity".

Raila Odinga Must Be Stopped From Running A Parallel Government In Kenya
Mr Maina said the affected media houses should calculate the loss from the shutdown and sue the CA for compensation for the period that they were off air.

Australian Government Embarrassed by Release of Thousands of Sensitive Documents
Numerous documents detail the behind-the-scenes minutia of various administrations. It also did not reveal the nature, nor the content of the missing NSC documents.

IKEA Furniture Magnate Ingvar Kamprad Dies at 91
He found that he could buy them in bulk very cheaply from Stockholm, and sell them at a low price but still make a good profit. His decision to live overseas , mainly in Switzerland , to avoid Sweden's high income taxes was also widely criticised.

NASA Says 'Super Blue Blood Moon' Coming Wednesday, January 31
According to Space.com, the last total eclipse of a blue moon occurred just after the Civil War era in in March 1866. Since the total eclipse happens right at moonset, it may be hard for people in western Kentucky to see it.

Wenger happy with or without Aubameyang
The Gunners want to sign a striker to replace Alexis Sanchez who joined Manchester United last week. Sporting director Michael Zorc had earlier also attempted to clarify the situation.