Live Market Updates: Nifty sinks below 5800 on FM's Budget speech
Holding it firm for sometime, the market seemed to be giving up all its gains. The FM has not allocated any major boosters so far. The Sensex was down 5.80 points or 0.03% at 19146.61, while the Nifty slipped below 5800 at 5792.90 down 4.00 points or 0.07%.
February 28, 2013 / 12:23 IST
Holding it firm for sometime, the market seemed to be giving up all its gains. The FM has not allocated any major boosters so far. The Sensex was down 5.80 points or 0.03% at 19146.61, while the Nifty slipped below 5800 at 5792.90 down 4.00 points or 0.07%.
Get full Budget coverage: http://www.moneycontrol.com/budget2013/Top losers on the BSE are ICICI Bank (down 2%), Maruti Suzuki (down 1.8%), Tata Steel (1%). Good news for MF sector! Finance minister allows MF distributors to become members of stock exchanges. Also, ETFs will be eligible for pension, insurance investments. Insurance and pension companies can directly trade in debt segment, FM announces. Moreover, FIIs can now participate in currency derivative segment. However, the exposure will be subject to forex exposure. Finance minister says India will follow international best practices for differentiating between FII and FDI. Importantly, the finance minister is keenly looking into the proposal to amend the SEBI Act to give more powers to the market regulator. The stock exchanges will have a dedicated debt segment. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
