New Delhi | Jagran Business Desk: The benchmark Sensex on Saturday plunged over 700 points while Nifty slipped 293 points in the afternoon session as on Saturday after the Union Budget projected widening of fiscal deficit for the current financial year.
At 1.49 pm, the Sensex plunged 725 points at 39,998 while Nifty slips 293 points at 11,742.
Laggards in the Sensex pack included L&T, Tata Steel, ONGC, PowerGrid, IndusInd Bank and SBI. On the flip side, HUL, Bajaj Finance, Nestle, TCS and UltraTech Cement traded in green.
Sensex was trading over 150 points higher ahead of the Budget presentation.
The Finance Minister said that the fiscal deficit for 2020-21 has been set to 3.8 per cent for the current fiscal compared to the earlier target of 3.3 per cent of GDP.
In her second Budget presentation, the finance minister said certain government securities will be open for foreign investors. She said the government plans to increase investment limit for FPIs in corporate bonds from 9 per cent to 15 per cent.
Earlier in the day, the investors remained cuatious as Sensex and Nifty slipped 279.01 pts at 40,444.48 while Nifty dipped 81.45 pts to 11,880.65 as as investors remained cautious ahead of the Union Budget
Posted By: James Kuanal
