Union Budget 2016-17: Sensex, Nifty choppy; Bank Nifty up 2% post Budget speech

Moneycontrol BureauThe market seems to be very indecisive as it see-saws between green and red territory. The Sensex is up 27.64 points or 0.1 percent at 23181.94 and the Nifty is up 23.25 points or 0.3 percent at 7053. About 1057 shares have advanced, 1210 shares declined, and 150 shares are unchanged.
Bank stocks has disgusted the lower-than-expected Rs 25000 crore recapitalisation allocated in the Budget. Bank Nifty is up 2 percent. "For speedier resolution of stressed assets,the Debt Recovery Tribunals will  be strengthened with focus on improving the existing infrastructure, including computerised processing of court cases, to support reduction in the number of hearings and faste disposal of cases," the government said.

Here are few Budget proposals

FY17 Tax revenue seen at Rs 16.3 lakh croreFY17 corporate tax revenue seen at Rs 4.94 lakh croreFY17 corporate tax revenue seen at Rs 4.94 lakh croreFY17 Petroleum subsidy seen at Rs 26,900 cr FY17 Food subsidy seen at Rs 1.35 lakh crore April-Jan total spending at Rs 14.36 lakh croreFY17 total subsidy seen at Rs 2.5 lakh croreFY17 strategic stake sale seen at Rs 20,500 croreFY17 Divestment target at Rs 36,000 crorePosted by Nasrin SultanaFollow @NasrinzStory