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Sensex gives thumbs down to Union Budget

The stock market gave a thumbs down to the Union Budget 2007-08 here on Wednesday. The Sensex was down 500 points.

DNA Web Team

Updated : Sep 14, 2017, 04:12 PM IST

Updated at 1 pm

MUMBAI: The stock markets reacted sharply to Finance Minister P Chidambaram's Budget for 2007-08, as the benchmark Sensex tanked over 529 points to again slip below the 13,000 level.

The wide-based NSE index Nifty plunged by 132 points at 3,762.05.

Even before Chidambaram finished announcing tax proposals, the market went into a free-fall reflecting investors disappointment at industry, particularly auto, not being given any relief.

All Sensex-related auto stocks, including Bajaj Auto, Hero Honda, Maruti Udyog and Tata Motors, were trading down.

The auto index was down about three per cent at 5,152 points.

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