Mumbai: Two big events, the Economic Survey and Railway Budget, had failed to impress the markets. The Sensex, thereafter, showed some recovery but jumped sharply after Finance Minister Arun Jaitley finished reading out the NDA government's first Union Budget.
The BSE benchmark Sensex was trading nearly 328 points lower as selling pressure emerged soon after Arun Jaitley began his Budget speech.
After rising to 25,613.72 points at the outset, the Sensex slipped into negative zone by falling sharply by 327.81 points, or 1.28 per cent to 25,117.00 at 11.45 am. All sectoral indices led by consumer durables, power, banking and capital goods sectors led decline.
Assuring investors that retrospective amendments to tax laws will be undertaken with extreme caution, Jaitley said all fresh cases arising out of the 2012 amendment of I-T Act would be looked into by a high level CBDT committee.
Emergence of profit-booking in recent gainers also influenced the sentiments, brokers said.
The Sensex fell 300 points during the Budget speech but soon wiped out the losses to gain over 400 points.
