Union Budget 2016-17: Nifty breaks 7000, Sensex falls over 100pts; market snubs Budget

Moneycontrol BureauThe market has started its downtrend journey, snubbing Finance Minister Arun Jaitley's Budget proposals at the moment. The Sensex is down 122.79 points or 0.5 percent at 23031.51 and the Nifty is down 37.85 points or 0.5 percent at 6991.90. About 908 shares have advanced, 1173 shares declined, and 133 shares are unchanged.
FMCG index is down 1.3 percent, while Bankex is on the verge of slipping into red. GAIL, Wipro, Infosys, Maruti and Hero are top losers.

Here are few Budget proposals

Allocate Rs 55,000 Cr for roads highways exclusive Rs 15000 cr for NHAI bondsTo pay 8.33 percent for new employees towards EPFO contribution for 3 years To set up high education financing agency with Rs 1000 cr capitalPropose to exempt parts of dialysis equipment from basic customs dutyPropose to launch new health care scheme with Rs 1 lakh as cover per family

Posted by Nasrin SultanaFollow @NasrinzStory