 "Markets remain positive; FM cuts excise across sectors")
Markets remained positive as the FM concluded his interim budget with cuts in excise duties in capital goods, auto, and consumer durables sectors. Fiscal deficit was contained at 4.6% of GDP, compared to an earlier target of 4.8%.
At 12:15, the 30 share Sensex was up by 79 points to 20,455, while the Nifty-50 gained 20 points to 6,068.
Shares of automobiles companies have moved higher after the finance minister P Chidambaram proposed to reduce excise duty for small cars, two-wheelers from to 8% from 12% June 30, 2014. The excise duty on SUV cut to 24% from 30% earlier, while for large and mid-segment cars cut to 20%.
The BSE auto index is up nearly 1% as compared, while The BSE Capital Goods index inched 0.3% higher to 9459.63.
At 12:15, the 30 share Sensex was up by 79 points to 20,455, while the Nifty-50 gained 20 points to 6,068.
Shares of automobiles companies have moved higher after the finance minister P Chidambaram proposed to reduce excise duty for small cars, two-wheelers from to 8% from 12% June 30, 2014. The excise duty on SUV cut to 24% from 30% earlier, while for large and mid-segment cars cut to 20%.
The BSE auto index is up nearly 1% as compared, while The BSE Capital Goods index inched 0.3% higher to 9459.63.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%