Roller coaster ride for Sensex
The stock market reacted sharply to Finance Minister P Chidambaram's Budget for 2007-08, as the benchmark Sensex tanked over 529 points to again slip below the 13,000 level.
The wide-based NSE index Nifty plunged by 132 points at 3,762.05.
Even before Chidambaram finished announcing tax proposals, the market went into a free-fall reflecting investors disappointment at industry, particularly auto, not being given any relief.
All Sensex-related auto stocks, including Bajaj Auto, Hero Honda, Maruti Udyog and Tata Motors, were trading down.
The auto index was down about three per cent at 5,152 points.
Enter your email to get our daily newsletter in your inbox
- Medical staff in hospitals wore bulky personal protective equipment (PPE) for hours, leaving them dehydrated, exhausted and drenched in sweat.
- Several high-frequency indicators such as the Nomura India Business Resumption Index (NIBRI), Purchasing Managers’ Indices (PMI) show a strong sequential recovery in the economy.