Budget 2016 India: Sensex, Nifty under pressure; banks dive on Budget proposal

Moneycontrol Bureau
The market remains under bear grip as the Sensex is down 157.26 points or 0.7 percent at 22997.04 and the Nifty is down 54.30 points or 0.8 percent at 6975.45. About 820 shares have advanced, 1311 shares declined, and 124 shares are unchanged.Bank Nifty falls 0.6 percent after the government allocated lower-than-expected recapitalisation amount for banks.

Wipro, Infosys, Maruti, Hero and GAIL are major losers while M&M, Tata Steel, Dr Reddy's Labs, ICICI Bank and ONGC are gainers.