Sensex down 130 points as FM begins Budget presentation
High volatility in trading greeted the beginning of Budget presentation with the benchmark index Sensex on the Bombay Stock Exchange shedding more than 120 points wiping off handsome gains made in initial trade.
Within half an hour of Finance Minister Pranab Mukherjee starting his Budget presentation, the Sensex fell by 129.47 points at 14,783.58. In early trade the index had posted 185 point gain.
The 50-stocks National Stock Exchange index Nifty also fell by 59.75 points at 4365.50.
Banking, auto FMCG and oil& gas were hit by selling, while realty, power and IT were trading in the red.