Union Budget 2016-17: Sensex, Nifty in red; BHEL, Wipro major laggards post Budget

Moneycontrol Bureau

The Sensex is down 67.71 points or 0.3 percent at 23086.59, and the Nifty down is 17.85 points or 0.2 percent at 7011.90. About 1078 shares have advanced, 1281 shares declined, and 173 shares are unchanged.

ICICI Bank, Lupin, Reliance, Dr Reddy's and Tata Steel are top gainers while ONGC, Maruti, Infosys, BHEL and Wipro are major losers in the Sensex.

The National Bank for Agriculture and Rural Development (Nabard) has welcomed the Budget saying the measures announced are positive for the sector that will help boost the sagging rural demand through provisions like the Rs 20,000-crore irrigation fund.

"Overall, this is a positive Budget for the rural sector that we cater to and the plans outlayed will help increase rural demand," Chairman HK Bhanwala told PTI when sought his comments on the Budget presented by Finance Minister Arun Jaitley today.

The minister said a dedicated long-term irrigation fund will be created in NABARD with a corpus of Rs 20,000 crore.